Bank of New York Mellon Corp Grows Position in UL Solutions Inc. $ULS

Bank of New York Mellon Corp lifted its holdings in UL Solutions Inc. (NYSE:ULS) by 21.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,428 shares of the company’s stock after purchasing an additional 31,596 shares during the period. Bank of New York Mellon Corp owned about 0.09% of UL Solutions worth $13,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wolverine Asset Management LLC acquired a new stake in shares of UL Solutions during the 2nd quarter worth approximately $1,384,000. Strs Ohio lifted its holdings in UL Solutions by 25.3% in the second quarter. Strs Ohio now owns 68,900 shares of the company’s stock valued at $5,020,000 after acquiring an additional 13,900 shares during the last quarter. Bessemer Group Inc. grew its position in UL Solutions by 32.2% in the second quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company’s stock worth $137,689,000 after acquiring an additional 460,394 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in UL Solutions during the second quarter worth $1,933,000. Finally, Caitong International Asset Management Co. Ltd raised its position in UL Solutions by 1,501.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,979 shares of the company’s stock valued at $217,000 after purchasing an additional 2,793 shares during the period.

Wall Street Analyst Weigh In

ULS has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of UL Solutions in a report on Thursday, November 13th. UBS Group upped their price target on UL Solutions from $75.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Wells Fargo & Company boosted their target price on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. 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 note on Wednesday, November 5th. Finally, The Goldman Sachs Group boosted their price objective on UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, UL Solutions currently has an average rating of “Hold” and an average target price of $81.71.

UL Solutions Stock Performance

Shares of ULS stock opened at $87.38 on Wednesday. The stock’s 50-day moving average price is $76.04 and its 200 day moving average price is $71.69. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $17.55 billion, a PE ratio of 52.32 and a beta of 1.05. UL Solutions Inc. has a 52-week low of $48.54 and a 52-week high of $91.95.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The company had revenue of $783.00 million during the quarter, compared to analysts’ expectations of $769.01 million. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.49 EPS. As a group, equities research analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Friday, November 28th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, November 28th. UL Solutions’s payout ratio is currently 31.14%.

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.