Vanguard Group Inc. Has $391.68 Million Position in UL Solutions Inc. $ULS

Vanguard Group Inc. cut its position in UL Solutions Inc. (NYSE:ULS) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,527,448 shares of the company’s stock after selling 15,967 shares during the quarter. Vanguard Group Inc. owned 2.75% of UL Solutions worth $391,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ULS. TD Private Client Wealth LLC bought a new stake in UL Solutions during the 3rd quarter worth approximately $1,681,000. Envestnet Asset Management Inc. raised its stake in shares of UL Solutions by 405.7% during the third quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock valued at $42,054,000 after acquiring an additional 476,121 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of UL Solutions during the third quarter worth $97,803,000. Voya Investment Management LLC acquired a new position in shares of UL Solutions during the third quarter worth $24,627,000. Finally, Rakuten Investment Management Inc. bought a new stake in shares of UL Solutions in the third quarter worth $1,436,000.

Analysts Set New Price Targets

ULS has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. UBS Group increased their price target on UL Solutions from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Weiss Ratings downgraded UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a research note on Friday, February 20th. Finally, Bank of America increased their target price on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, UL Solutions presently has an average rating of “Hold” and a consensus target price of $87.60.

UL Solutions Stock Up 2.6%

Shares of NYSE:ULS opened at $84.09 on Friday. UL Solutions Inc. has a 1 year low of $49.34 and a 1 year 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 business’s 50-day moving average is $76.32 and its 200-day moving average is $75.47. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 52.89, a P/E/G ratio of 3.37 and a beta of 1.11.

UL Solutions (NYSE:ULS) last issued its earnings results on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, topping 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 business had revenue of $789.00 million during the quarter, compared to the consensus estimate of $782.37 million. During the same period in the previous year, the company posted $0.49 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities 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. Investors of record on Monday, March 2nd will be given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, March 2nd. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is presently 32.70%.

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.