Vestmark Advisory Solutions Inc. Takes Position in UL Solutions Inc. $ULS

Vestmark Advisory Solutions Inc. purchased a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the 3rd quarter, Holdings Channel reports. The fund purchased 62,816 shares of the company’s stock, valued at approximately $4,451,000.

Several other hedge funds have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased 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 worth $38,000 after purchasing an additional 171 shares during the period. Assetmark Inc. bought a new position in shares of UL Solutions in the 3rd quarter valued at about $40,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 purchasing an additional 614 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of UL Solutions during the 1st quarter worth approximately $49,000. Finally, PNC Financial Services Group Inc. raised its stake 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 during the last quarter.

UL Solutions Price Performance

Shares of ULS stock opened at $78.17 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. UL Solutions Inc. has a 12-month low of $49.34 and a 12-month high of $91.95. The firm has a fifty day moving average of $76.08 and a 200-day moving average of $75.26. The firm has a market capitalization of $15.70 billion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 4.45 and a beta of 1.12.

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

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.145 per share. This is a boost 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 dividend yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is presently 32.70%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ULS. Bank of America raised their price objective on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Wells Fargo & Company increased their price target on UL Solutions from $97.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings downgraded UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.50.

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.