Federated Hermes Inc. Has $58.22 Million Stock Holdings in UL Solutions Inc. $ULS

Federated Hermes Inc. increased its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 25.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 821,596 shares of the company’s stock after buying an additional 164,396 shares during the quarter. Federated Hermes Inc. owned 0.41% of UL Solutions worth $58,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ULS. Parkside Financial Bank & Trust grew its stake in UL Solutions by 48.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after acquiring an additional 171 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of UL Solutions by 3,070.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after purchasing an additional 614 shares during the period. Rhumbline Advisers purchased a new position in UL Solutions during the first quarter valued at approximately $49,000. PNC Financial Services Group Inc. increased its stake in UL Solutions by 28.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock valued at $53,000 after buying an additional 161 shares during the period. Finally, HM Payson & Co. purchased a new stake in UL Solutions in the 3rd quarter worth approximately $70,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ULS shares. Robert W. Baird set a $97.00 price target on shares of UL Solutions and gave the company an “outperform” rating in a report on Wednesday, December 17th. Zacks Research upgraded UL Solutions from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $84.00 target price (up from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. The Goldman Sachs Group lifted their price target on UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of UL Solutions in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, UL Solutions has an average rating of “Moderate Buy” and a consensus price target of $83.57.

UL Solutions Stock Performance

Shares of NYSE ULS opened at $71.04 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $14.27 billion, a price-to-earnings ratio of 42.54 and a beta of 1.09. The business’s 50-day simple moving average is $79.59 and its 200-day simple moving average is $74.92. UL Solutions Inc. has a 52 week low of $49.34 and a 52 week high of $91.95.

UL Solutions (NYSE:ULS) last posted its earnings results on Tuesday, November 4th. The company reported $0.56 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $769.01 million. During the same period in the previous year, the company earned $0.49 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Friday, November 28th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, November 28th. UL Solutions’s dividend payout ratio (DPR) is 31.14%.

UL Solutions Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.