Picton Mahoney Asset Management Has $1.88 Million Holdings in UL Solutions Inc. $ULS

Picton Mahoney Asset Management decreased its holdings in UL Solutions Inc. (NYSE:ULS) by 79.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,492 shares of the company’s stock after selling 105,219 shares during the quarter. Picton Mahoney Asset Management’s holdings in UL Solutions were worth $1,877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Parkside Financial Bank & Trust lifted its holdings in UL Solutions by 48.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock worth $38,000 after buying an additional 171 shares during the period. Assetmark Inc. acquired a new stake in shares of UL Solutions in the third quarter valued at about $40,000. Northwestern Mutual Wealth Management Co. raised its position in shares of UL Solutions by 3,070.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after acquiring an additional 614 shares during the last quarter. Rhumbline Advisers bought a new position in shares of UL Solutions during the first quarter worth about $49,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of UL Solutions by 28.2% in the second quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock worth $53,000 after acquiring an additional 161 shares during the period.

UL Solutions Stock Up 0.3%

ULS stock opened at $81.35 on Friday. The stock’s 50 day simple moving average is $76.76 and its 200 day simple moving average is $75.98. The company has a market cap of $16.35 billion, a P/E ratio of 51.16, a price-to-earnings-growth ratio of 3.33 and a beta of 0.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. UL Solutions Inc. has a fifty-two week low of $49.34 and a fifty-two week high of $91.95.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.53 EPS for the quarter, beating 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 firm had revenue of $789.00 million during the quarter, compared to analysts’ expectations of $782.37 million. During the same quarter last year, the firm posted $0.49 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.145 per share. The ex-dividend date is Monday, March 2nd. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a yield of 0.7%. UL Solutions’s dividend payout ratio is currently 36.48%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Bank of America increased their price objective on shares of UL Solutions to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. The Goldman Sachs Group restated a “neutral” rating on shares of UL Solutions in a report on Friday, February 20th. UBS Group upped their price target on shares of UL Solutions from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Finally, Robert W. Baird lowered their price objective on UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, UL Solutions has an average rating of “Hold” and an average price target of $87.60.

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.