UL Solutions Inc. $ULS Shares Purchased by Capital Research Global Investors

Capital Research Global Investors raised its position in UL Solutions Inc. (NYSE:ULS) by 20.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,942,905 shares of the company’s stock after purchasing an additional 674,088 shares during the quarter. Capital Research Global Investors owned 1.96% of UL Solutions worth $279,394,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Parkside Financial Bank & Trust raised its stake in shares of UL Solutions by 48.4% in the second quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after acquiring an additional 171 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of UL Solutions during the 3rd quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. grew its holdings 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 purchasing an additional 614 shares during the last quarter. Rhumbline Advisers acquired a new position in UL Solutions during the first quarter worth approximately $49,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of UL Solutions by 28.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock valued at $53,000 after acquiring an additional 161 shares during the period.

UL Solutions Stock Performance

UL Solutions stock opened at $81.69 on Wednesday. The company has a market cap of $16.42 billion, a PE ratio of 51.38, a P/E/G ratio of 3.39 and a beta of 0.87. UL Solutions Inc. has a 12 month low of $49.34 and a 12 month high of $91.95. The company has a fifty day moving average price of $76.84 and a two-hundred day moving average price of $76.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32.

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 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 firm had revenue of $789.00 million for the quarter, compared to analyst estimates of $782.37 million. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts expect 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 given a dividend of $0.145 per share. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, March 2nd. UL Solutions’s payout ratio is presently 36.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ULS shares. UBS Group upped their price target on UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Citigroup decreased their price target on UL Solutions from $88.10 to $87.80 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a research note on Friday, February 20th. Zacks Research cut UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. 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 data from MarketBeat, the company has an average rating of “Hold” and an average target price of $87.60.

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.