UL Solutions Inc. $ULS Shares Acquired by Legal & General Group Plc

Legal & General Group Plc lifted its stake in shares of UL Solutions Inc. (NYSE:ULS) by 14.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 62,104 shares of the company’s stock after buying an additional 7,670 shares during the quarter. Legal & General Group Plc’s holdings in UL Solutions were worth $4,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ULS. Parkside Financial Bank & Trust increased its stake in UL Solutions by 48.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after buying an additional 171 shares during the period. Elequin Capital LP acquired a new stake in shares of UL Solutions in the 1st quarter worth $31,000. PNC Financial Services Group Inc. boosted its holdings in shares of UL Solutions by 28.2% in the second quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock valued at $53,000 after acquiring an additional 161 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of UL Solutions during the first quarter worth about $49,000. Finally, Amica Mutual Insurance Co. purchased a new position in UL Solutions during the second quarter worth about $72,000.

UL Solutions Stock Performance

NYSE ULS opened at $76.58 on Friday. The business has a 50 day moving average price of $80.75 and a 200 day moving average price of $73.14. The company has a market capitalization of $15.38 billion, a P/E ratio of 45.86 and a beta of 0.92. UL Solutions Inc. has a 1-year low of $48.54 and a 1-year high of $91.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33.

UL Solutions (NYSE:ULS) last posted its earnings results on Tuesday, November 4th. The company reported $0.56 EPS for the quarter, topping 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 company had revenue of $783.00 million for the quarter, compared to the consensus estimate of $769.01 million. During the same period in the previous year, the business earned $0.49 earnings per share. UL Solutions’s quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Friday, November 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 28th. UL Solutions’s dividend payout ratio is presently 31.14%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ULS. JPMorgan Chase & Co. restated a “neutral” rating and issued a $84.00 price objective (up previously from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. Wells Fargo & Company raised their price target on UL Solutions from $77.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. The Goldman Sachs Group lifted their price target on UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of UL Solutions in a research report on Monday. Finally, UBS Group raised their target price on UL Solutions from $75.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Three 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 presently has an average rating of “Hold” and an average price target 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.