13,840 Shares in UL Solutions Inc. $ULS Purchased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,840 shares of the company’s stock, valued at approximately $981,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ULS. Norges Bank bought a new stake in shares of UL Solutions in the second quarter valued at approximately $89,174,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in UL Solutions in the 1st quarter worth approximately $57,999,000. DekaBank Deutsche Girozentrale purchased a new position in UL Solutions in the 2nd quarter valued at approximately $52,396,000. Electron Capital Partners LLC purchased a new position in UL Solutions in the 2nd quarter valued at approximately $45,558,000. Finally, Bessemer Group Inc. raised its holdings in UL Solutions by 32.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company’s stock valued at $137,689,000 after acquiring an additional 460,394 shares during the period.

UL Solutions Price Performance

UL Solutions stock opened at $77.52 on Wednesday. The stock has a market cap of $15.57 billion, a price-to-earnings ratio of 46.42 and a beta of 0.92. 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 business has a 50-day simple moving average of $81.54 and a 200 day simple moving average of $73.46. UL Solutions Inc. has a 52 week low of $48.54 and a 52 week high of $91.95.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The firm had revenue of $783.00 million for the quarter, compared to analysts’ expectations of $769.01 million. During the same quarter last year, the firm posted $0.49 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Friday, November 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, November 28th. UL Solutions’s payout ratio is currently 31.14%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ULS. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of UL Solutions in a report on Monday, December 8th. Wells Fargo & Company increased their price objective on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $84.00 target price (up previously from $70.00) on shares of UL Solutions in a research note on Wednesday, November 5th. The Goldman Sachs Group upped their price target on UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, UBS Group increased their price target on shares of UL Solutions from $75.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, UL Solutions has a consensus rating of “Hold” and a consensus price target of $81.71.

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.