Cresset Asset Management LLC Takes $226,000 Position in UL Solutions Inc. $ULS

Cresset Asset Management LLC purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) in the first quarter, according to its most recent filing with the SEC. The firm purchased 4,015 shares of the company’s stock, valued at approximately $226,000.

Several other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in shares of UL Solutions by 1.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company’s stock valued at $252,333,000 after buying an additional 82,261 shares during the period. Janus Henderson Group PLC boosted its stake in shares of UL Solutions by 3.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,389,077 shares of the company’s stock worth $119,164,000 after buying an additional 81,426 shares during the last quarter. Bessemer Group Inc. purchased a new position in UL Solutions in the first quarter worth $80,618,000. Conestoga Capital Advisors LLC boosted its holdings in shares of UL Solutions by 0.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 710,302 shares of the company’s stock worth $40,061,000 after buying an additional 4,367 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of UL Solutions by 31.5% during the 4th quarter. Two Sigma Investments LP now owns 692,510 shares of the company’s stock valued at $34,542,000 after acquiring an additional 165,746 shares during the period.

UL Solutions Trading Up 1.0%

UL Solutions stock opened at $63.23 on Wednesday. The company has a market capitalization of $12.70 billion, a price-to-earnings ratio of 39.03 and a beta of 1.00. The business’s fifty day simple moving average is $69.65 and its two-hundred day simple moving average is $63.44. UL Solutions Inc. has a 12 month low of $46.79 and a 12 month high of $74.15. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55.

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

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 0.8%. UL Solutions’s dividend payout ratio (DPR) is 32.10%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup reiterated a “neutral” rating and set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Raymond James Financial increased their price target on shares of UL Solutions from $60.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Robert W. Baird upped their price objective on UL Solutions from $60.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Wells Fargo & Company increased their target price on shares of UL Solutions from $65.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Finally, UBS Group reduced their price target on UL Solutions from $72.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, UL Solutions presently has an average rating of “Hold” and a consensus target price of $70.86.

UL Solutions Company 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.