Ranger Investment Management L.P. Purchases Shares of 418,200 UL Solutions Inc. $ULS

Ranger Investment Management L.P. acquired a new position in shares of UL Solutions Inc. (NYSE:ULS) in the second quarter, HoldingsChannel reports. The institutional investor acquired 418,200 shares of the company’s stock, valued at approximately $42,598,000. UL Solutions comprises 2.7% of Ranger Investment Management L.P.’s portfolio, making the stock its 4th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of UL Solutions by 349.3% during the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after purchasing an additional 234 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after purchasing an additional 614 shares during the period. Rhumbline Advisers bought a new stake in UL Solutions in the 1st quarter valued at $49,000. CIBC Private Wealth Group LLC grew its holdings in UL Solutions by 112.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after buying an additional 479 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in UL Solutions by 42.4% in the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock valued at $84,000 after buying an additional 245 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on ULS. Zacks Research cut UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings raised shares of UL Solutions from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $86.00 price target on shares of UL Solutions in a research note on Wednesday, August 5th. UBS Group lowered their price target on shares of UL Solutions from $110.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $115.00 price objective on shares of UL Solutions in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.78.

UL Solutions Trading Down 0.1%

Shares of NYSE:ULS opened at $74.95 on Monday. The company has a market capitalization of $15.13 billion, a P/E ratio of 30.34, a P/E/G ratio of 3.12 and a beta of 0.71. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The business’s 50 day simple moving average is $87.31 and its 200 day simple moving average is $87.71.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $816.00 million for the quarter, compared to analyst estimates of $813.62 million. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%.The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.52 EPS. On average, research analysts anticipate that UL Solutions Inc. will post 2.08 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. UL Solutions’s dividend payout ratio is 23.48%.

Insider Buying and Selling

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $92.08, for a total transaction of $1,151,000.00. Following the completion of the sale, the chief executive officer owned 151,724 shares of the company’s stock, valued at $13,970,745.92. This represents a 7.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gitte Schjotz sold 12,015 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $99.71, for a total transaction of $1,198,015.65. Following the sale, the insider directly owned 69,206 shares of the company’s stock, valued at $6,900,530.26. This represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 47,605 shares of company stock worth $4,616,835. Company insiders own 1.20% of the company’s stock.

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.