Capital Group Private Client Services Inc. Lowers Stock Holdings in UL Solutions Inc. $ULS

Capital Group Private Client Services Inc. cut its stake in shares of UL Solutions Inc. (NYSE:ULS) by 92.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,974 shares of the company’s stock after selling 80,469 shares during the period. Capital Group Private Client Services Inc.’s holdings in UL Solutions were worth $494,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Parkside Financial Bank & Trust lifted its holdings in shares of UL Solutions by 48.4% during the second quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock worth $38,000 after purchasing an additional 171 shares during the period. Assetmark Inc. purchased a new position in shares of UL Solutions during the 3rd quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after buying an additional 614 shares during the period. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the 1st quarter valued at approximately $49,000. Finally, PNC Financial Services Group Inc. grew its holdings in UL Solutions by 28.2% during the second quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock worth $53,000 after acquiring an additional 161 shares during the period.

UL Solutions Price Performance

UL Solutions stock opened at $82.76 on Thursday. The stock has a market capitalization of $16.64 billion, a P/E ratio of 52.05, a P/E/G ratio of 3.35 and a beta of 0.87. UL Solutions Inc. has a 12-month low of $49.34 and a 12-month high of $91.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The firm’s 50-day moving average is $76.92 and its two-hundred day moving average is $76.49.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. The business had revenue of $789.00 million for the quarter, compared to the consensus estimate of $782.37 million. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Equities analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd will be issued a $0.145 dividend. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date is Monday, March 2nd. This represents a $0.58 annualized dividend and a yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is presently 36.48%.

Analysts Set New Price Targets

Several equities research analysts have commented on ULS shares. UBS Group boosted their target price on shares of UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Robert W. Baird dropped their target price on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, February 20th. The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $87.60.

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.