Handelsbanken Fonder AB Takes $969,000 Position in UL Solutions Inc. $ULS

Handelsbanken Fonder AB acquired a new position in UL Solutions Inc. (NYSE:ULS) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 13,300 shares of the company’s stock, valued at approximately $969,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ULS. Elequin Capital LP bought a new stake in UL Solutions during the first quarter valued at approximately $31,000. Parkside Financial Bank & Trust lifted its holdings in shares of UL Solutions by 48.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock worth $38,000 after acquiring an additional 171 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of UL Solutions during the 1st quarter worth $49,000. PNC Financial Services Group Inc. grew its position in UL Solutions by 28.2% in the second quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock worth $53,000 after acquiring an additional 161 shares in the last quarter. Finally, Amica Mutual Insurance Co. bought a new position in UL Solutions in the second quarter valued at $72,000.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ULS. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $84.00 price target (up previously from $70.00) on shares of UL Solutions in a research note on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of UL Solutions in a research report on Tuesday. Wells Fargo & Company upped their target price on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group lifted their price target on shares of UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, UBS Group boosted their price objective on shares of UL Solutions from $75.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, UL Solutions presently has a consensus rating of “Hold” and a consensus price target of $81.71.

UL Solutions Price Performance

ULS opened at $91.21 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33. The stock’s 50 day simple moving average is $79.37 and its 200 day simple moving average is $72.76. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of 54.62 and a beta of 1.05. UL Solutions Inc. has a 1 year low of $48.54 and a 1 year high of $91.95.

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

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Friday, November 28th will be issued a $0.13 dividend. 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 dividend payout ratio (DPR) is 31.14%.

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.