LGT Fund Management Co Ltd. Invests $4.63 Million in UL Solutions Inc. $ULS

LGT Fund Management Co Ltd. acquired a new position in UL Solutions Inc. (NYSE:ULS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 63,500 shares of the company’s stock, valued at approximately $4,627,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hall Laurie J Trustee boosted its holdings in UL Solutions by 0.6% during the second quarter. Hall Laurie J Trustee now owns 56,405 shares of the company’s stock worth $4,110,000 after buying an additional 350 shares in the last quarter. Elequin Capital LP purchased a new stake in UL Solutions during the first quarter worth $31,000. Connecticut Wealth Management LLC boosted its holdings in UL Solutions by 5.7% during the first quarter. Connecticut Wealth Management LLC now owns 10,785 shares of the company’s stock worth $608,000 after buying an additional 585 shares in the last quarter. Algert Global LLC boosted its holdings in UL Solutions by 0.9% during the first quarter. Algert Global LLC now owns 83,530 shares of the company’s stock worth $4,711,000 after buying an additional 782 shares in the last quarter. Finally, Rhumbline Advisers purchased a new stake in UL Solutions during the first quarter worth $49,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on ULS shares. UBS Group lowered their price target on shares of UL Solutions from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price objective on shares of UL Solutions from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of UL Solutions in a report on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.86.

UL Solutions Stock Performance

ULS opened at $72.29 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55. The company has a market cap of $14.52 billion, a price-to-earnings ratio of 44.62 and a beta of 1.04. UL Solutions Inc. has a 52-week low of $48.54 and a 52-week high of $74.15. The firm’s fifty day simple moving average is $67.32 and its two-hundred day simple moving average is $65.97.

UL Solutions (NYSE:ULS) last issued its earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The business had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $771.55 million. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. Equities analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 29th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 29th. UL Solutions’s dividend payout ratio is 32.10%.

UL Solutions Company 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.