Harvey Partners LLC boosted its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 31.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 261,500 shares of the company's stock after acquiring an additional 62,500 shares during the quarter. UL Solutions accounts for about 1.5% of Harvey Partners LLC's investment portfolio, making the stock its 28th largest position. Harvey Partners LLC owned 0.13% of UL Solutions worth $12,892,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Stone House Investment Management LLC bought a new position in UL Solutions in the 3rd quarter worth about $25,000. EverSource Wealth Advisors LLC bought a new position in UL Solutions in the 2nd quarter worth about $29,000. Northwest & Ethical Investments L.P. bought a new position in shares of UL Solutions during the 3rd quarter valued at about $84,000. Sunbelt Securities Inc. purchased a new position in shares of UL Solutions during the 2nd quarter valued at about $72,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of UL Solutions during the 2nd quarter valued at about $84,000.
UL Solutions Stock Performance
Shares of ULS stock traded up $0.22 during trading hours on Tuesday, reaching $53.04. The company's stock had a trading volume of 461,042 shares, compared to its average volume of 737,309. UL Solutions Inc. has a one year low of $33.15 and a one year high of $59.23. The firm's fifty day simple moving average is $51.82 and its 200 day simple moving average is $47.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31.
UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.10. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. The firm had revenue of $731.00 million for the quarter, compared to analyst estimates of $709.41 million. UL Solutions's quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts expect that UL Solutions Inc. will post 1.53 earnings per share for the current year.
UL Solutions Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 29th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.50 annualized dividend and a dividend yield of 0.94%.
Insider Activity at UL Solutions
In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on ULS shares. Wells Fargo & Company raised their price objective on UL Solutions from $56.00 to $62.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. The Goldman Sachs Group raised their price objective on UL Solutions from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. UBS Group raised their price objective on UL Solutions from $52.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Robert W. Baird raised their price objective on UL Solutions from $53.00 to $57.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Finally, Citigroup initiated coverage on UL Solutions in a research note on Monday, October 7th. They issued a "buy" rating and a $60.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.00.
View Our Latest Analysis on ULS
About UL Solutions
(
Free Report)
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.
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