Truist Financial Corp Has $4.85 Million Stock Holdings in UL Solutions Inc. $ULS

Truist Financial Corp raised its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 1,981.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 68,469 shares of the company’s stock after acquiring an additional 65,180 shares during the period. Truist Financial Corp’s holdings in UL Solutions were worth $4,852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. increased its holdings in UL Solutions by 32.2% in the second quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company’s stock valued at $137,689,000 after purchasing an additional 460,394 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of UL Solutions in the 3rd quarter valued at about $97,803,000. Norges Bank bought a new stake in shares of UL Solutions in the 2nd quarter valued at about $89,174,000. Conestoga Capital Advisors LLC raised its position in shares of UL Solutions by 64.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock valued at $85,193,000 after acquiring an additional 458,972 shares during the period. Finally, Geode Capital Management LLC boosted its stake in UL Solutions by 53.1% during the 2nd quarter. Geode Capital Management LLC now owns 999,507 shares of the company’s stock worth $72,837,000 after acquiring an additional 346,633 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $84.00 price objective (up previously from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. UBS Group decreased their target price on UL Solutions from $96.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Finally, Robert W. Baird set a $97.00 price target on UL Solutions and gave the stock an “outperform” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, UL Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.57.

UL Solutions Price Performance

ULS stock opened at $70.63 on Wednesday. The stock has a 50-day moving average price of $78.61 and a two-hundred day moving average price of $74.97. UL Solutions Inc. has a 1 year low of $49.34 and a 1 year high of $91.95. The stock has a market cap of $14.19 billion, a PE ratio of 42.29 and a beta of 1.11. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data 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 company had revenue of $783.00 million during the quarter, compared to analysts’ expectations of $769.01 million. During the same period in the prior year, the firm earned $0.49 earnings per share. UL Solutions’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

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

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.