Geode Capital Management LLC Acquires 346,633 Shares of UL Solutions Inc. $ULS

Geode Capital Management LLC lifted its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 53.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 999,507 shares of the company’s stock after purchasing an additional 346,633 shares during the period. Geode Capital Management LLC owned 0.50% of UL Solutions worth $72,837,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Cresset Asset Management LLC bought a new position in shares of UL Solutions during the 1st quarter worth approximately $226,000. KLP Kapitalforvaltning AS lifted its position in shares of UL Solutions by 39.7% during the 1st quarter. KLP Kapitalforvaltning AS now owns 16,900 shares of the company’s stock valued at $953,000 after acquiring an additional 4,800 shares during the period. Northern Trust Corp lifted its position in shares of UL Solutions by 26.8% during the 1st quarter. Northern Trust Corp now owns 232,946 shares of the company’s stock valued at $13,138,000 after acquiring an additional 49,222 shares during the period. Vest Financial LLC boosted its stake in UL Solutions by 122.7% during the second quarter. Vest Financial LLC now owns 34,795 shares of the company’s stock worth $2,535,000 after acquiring an additional 19,172 shares in the last quarter. Finally, Cannon Global Investment Management LLC acquired a new stake in UL Solutions in the second quarter worth $437,000.

UL Solutions Price Performance

ULS stock opened at $85.46 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33. The business has a 50-day simple moving average of $77.18 and a two-hundred day simple moving average of $72.10. The company has a market capitalization of $17.17 billion, a P/E ratio of 51.18 and a beta of 1.05. UL Solutions Inc. has a 52-week low of $48.54 and a 52-week high of $91.95.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. The firm had revenue of $783.00 million during the quarter, compared to the consensus estimate of $769.01 million. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 earnings per share. Research analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, November 28th. UL Solutions’s payout ratio is currently 31.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group upped their price objective on shares of UL Solutions from $75.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. The Goldman Sachs Group upped their price target on UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $84.00 price target (up previously from $70.00) on shares of UL Solutions in a report on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of UL Solutions in a report on Wednesday. Finally, Wells Fargo & Company increased their target price on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $81.71.

UL Solutions Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.