Norges Bank Purchases New Position in UL Solutions Inc. $ULS

Norges Bank acquired a new position in shares of UL Solutions Inc. (NYSE:ULS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,223,911 shares of the company’s stock, valued at approximately $89,174,000. Norges Bank owned approximately 0.61% of UL Solutions at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elequin Capital LP bought a new stake in shares of UL Solutions in the 1st quarter worth about $31,000. Parkside Financial Bank & Trust boosted its position in UL Solutions by 48.4% in the second quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after buying an additional 171 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in UL Solutions by 3,070.0% in the second 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 in the last quarter. Rhumbline Advisers bought a new stake in UL Solutions during the first quarter worth about $49,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of 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 buying an additional 161 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of UL Solutions in a report on Monday. UBS Group lifted their price objective on UL Solutions from $75.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. The Goldman Sachs Group boosted their price objective on UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Wells Fargo & Company raised their target price on UL Solutions from $77.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $84.00 price target (up previously from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $81.71.

UL Solutions Stock Down 3.4%

NYSE ULS opened at $76.66 on Friday. The stock has a market capitalization of $15.40 billion, a P/E ratio of 45.91 and a beta of 0.92. UL Solutions Inc. has a 52 week low of $48.54 and a 52 week high of $91.95. 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 stock has a fifty day moving average of $80.61 and a 200-day moving average of $73.11.

UL Solutions (NYSE:ULS) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $783.00 million for 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. On average, equities research analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

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

UL Solutions 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.