Acadian Asset Management LLC Cuts Stock Holdings in UL Solutions Inc. $ULS

Acadian Asset Management LLC reduced its position in shares of UL Solutions Inc. (NYSE:ULS) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,034,171 shares of the company’s stock after selling 34,156 shares during the period. Acadian Asset Management LLC owned about 0.52% of UL Solutions worth $75,335,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its stake in UL Solutions by 48.4% in the second quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after purchasing an additional 171 shares during the period. KLP Kapitalforvaltning AS raised its stake in shares of UL Solutions by 1.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 17,100 shares of the company’s stock worth $1,246,000 after buying an additional 200 shares during the last quarter. Hall Laurie J Trustee increased its stake in shares of UL Solutions by 0.6% during the 2nd quarter. Hall Laurie J Trustee now owns 56,405 shares of the company’s stock worth $4,110,000 after purchasing an additional 350 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of UL Solutions during the first quarter valued at $31,000. Finally, Connecticut Wealth Management LLC lifted its stake in shares of UL Solutions by 5.7% during the first quarter. Connecticut Wealth Management LLC now owns 10,785 shares of the company’s stock valued at $608,000 after buying an additional 585 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of UL Solutions in a report on Wednesday, October 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $84.00 price target (up previously from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. The Goldman Sachs Group raised their price objective on UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company boosted their price objective on UL Solutions from $77.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, UBS Group raised their target price on shares of UL Solutions from $75.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $81.71.

UL Solutions Stock Performance

NYSE:ULS opened at $85.51 on Monday. UL Solutions Inc. has a 1 year low of $48.54 and a 1 year high of $91.95. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $17.18 billion, a PE ratio of 51.20 and a beta of 1.05. The firm’s fifty day simple moving average is $72.83 and its 200 day simple moving average is $70.26.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $783.00 million for the quarter, compared to the consensus estimate of $769.01 million. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. On average, sell-side analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 29th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions’s dividend payout ratio (DPR) is currently 31.14%.

About UL Solutions

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.