American Century Companies Inc. Increases Stock Position in UL Solutions Inc. $ULS

American Century Companies Inc. raised its position in UL Solutions Inc. (NYSE:ULS) by 11.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 620,907 shares of the company’s stock after buying an additional 65,730 shares during the period. American Century Companies Inc. owned about 0.31% of UL Solutions worth $43,997,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ULS. TD Private Client Wealth LLC acquired a new position in UL Solutions in the 3rd quarter worth about $1,681,000. Envestnet Asset Management Inc. grew its holdings in UL Solutions by 405.7% in the third quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock valued at $42,054,000 after purchasing an additional 476,121 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in UL Solutions in the third quarter valued at approximately $97,803,000. Voya Investment Management LLC purchased a new stake in shares of UL Solutions in the third quarter valued at approximately $24,627,000. Finally, Rakuten Investment Management Inc. acquired a new stake in UL Solutions in the 3rd quarter valued at $1,436,000.

UL Solutions Trading Down 0.4%

Shares of UL Solutions stock opened at $81.22 on Friday. The stock has a 50 day moving average of $76.79 and a 200 day moving average of $76.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of 51.08, a PEG ratio of 3.35 and a beta of 0.87. UL Solutions Inc. has a fifty-two week low of $49.34 and a fifty-two week high of $91.95.

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

UL Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 0.7%. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Monday, March 2nd. UL Solutions’s payout ratio is 36.48%.

Analyst Upgrades and Downgrades

ULS has been the topic of several recent analyst reports. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Wells Fargo & Company upped their price target on shares of UL Solutions from $97.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Robert W. Baird lowered their price objective on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. JPMorgan Chase & Co. boosted their price objective on UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $87.60.

About UL Solutions

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.