Raymond James & Associates Takes $9.09 Million Position in UL Solutions Inc. (NYSE:ULS)

Raymond James & Associates purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 215,432 shares of the company’s stock, valued at approximately $9,089,000. Raymond James & Associates owned approximately 0.11% of UL Solutions as of its most recent filing with the Securities & Exchange Commission.

Separately, Bellecapital International Ltd. acquired a new stake in shares of UL Solutions in the second quarter valued at about $208,000.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their target price on UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Jefferies Financial Group began coverage on UL Solutions in a report on Tuesday, May 7th. They issued a “buy” rating and a $42.00 price target for the company. Bank of America began coverage on UL Solutions in a research note on Tuesday, May 7th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Baird R W downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, UL Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $43.90.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $54.61 on Monday. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $55.02. The business’s 50-day simple moving average is $46.14. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick ratio of 1.29.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. The company had revenue of $730.00 million for the quarter, compared to analyst estimates of $718.73 million. The company’s revenue was up 6.0% compared to the same quarter last year. Equities analysts predict that UL Solutions Inc. will post 1.49 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Friday, August 30th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, August 30th.

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.