Vanguard Group Inc. Sells 27,504 Shares of UL Solutions Inc. $ULS

Vanguard Group Inc. trimmed its position in UL Solutions Inc. (NYSE:ULS) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,546,191 shares of the company’s stock after selling 27,504 shares during the quarter. Vanguard Group Inc. owned 2.77% of UL Solutions worth $312,805,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ULS. T. Rowe Price Investment Management Inc. increased its stake in UL Solutions by 88.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company’s stock valued at $210,729,000 after acquiring an additional 1,987,295 shares during the last quarter. Bessemer Group Inc. acquired a new stake in UL Solutions in the first quarter valued at approximately $80,618,000. Wellington Management Group LLP acquired a new stake in UL Solutions in the fourth quarter valued at approximately $32,091,000. Raymond James Financial Inc. acquired a new stake in UL Solutions in the fourth quarter valued at approximately $18,345,000. Finally, Voloridge Investment Management LLC acquired a new stake in UL Solutions in the fourth quarter valued at approximately $14,382,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ULS. JPMorgan Chase & Co. raised their target price on shares of UL Solutions from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Robert W. Baird raised their target price on shares of UL Solutions from $60.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their target price on shares of UL Solutions from $65.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group raised their target price on shares of UL Solutions from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, Raymond James Financial raised their target price on shares of UL Solutions from $60.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.86.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $67.17 on Monday. The firm has a market cap of $13.49 billion, a PE ratio of 41.46 and a beta of 1.00. The firm’s fifty day moving average is $70.38 and its 200-day moving average is $62.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.32. UL Solutions Inc. has a 52 week low of $46.79 and a 52 week high of $74.15.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The company had revenue of $776.00 million for the quarter, compared to analyst estimates of $771.55 million. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. UL Solutions’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. Sell-side analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 30th were issued a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 0.8%. UL Solutions’s payout ratio is presently 32.10%.

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.