UL Solutions Inc. $ULS Shares Bought by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC grew its stake in shares of UL Solutions Inc. (NYSE:ULS) by 64.6% in the second quarter, Holdings Channel.com reports. The fund owned 1,169,274 shares of the company’s stock after purchasing an additional 458,972 shares during the period. Conestoga Capital Advisors LLC’s holdings in UL Solutions were worth $85,193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ULS. Elequin Capital LP purchased a new position in shares of UL Solutions during the 1st quarter worth approximately $31,000. Rhumbline Advisers purchased a new position in shares of UL Solutions during the 1st quarter worth approximately $49,000. LRI Investments LLC purchased a new position in shares of UL Solutions during the 2nd quarter worth approximately $128,000. Argent Trust Co purchased a new position in shares of UL Solutions during the 1st quarter worth approximately $208,000. Finally, Phillips Wealth Planners LLC purchased a new position in shares of UL Solutions during the 1st quarter worth approximately $226,000.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ULS. JPMorgan Chase & Co. raised their price objective on shares of UL Solutions from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. UBS Group raised their price objective on shares of UL Solutions from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of UL Solutions in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.57.

UL Solutions Stock Down 1.7%

ULS stock opened at $75.14 on Monday. The stock has a market capitalization of $15.09 billion, a P/E ratio of 46.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.32. UL Solutions Inc. has a one year low of $48.54 and a one year high of $79.05. The company has a 50 day moving average price of $68.32 and a two-hundred day moving average price of $67.47.

UL Solutions (NYSE:ULS) last released its earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. The firm 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%. UL Solutions’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. As a group, sell-side analysts expect that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

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

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.