Massachusetts Financial Services Co. MA trimmed its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 17.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,874,451 shares of the company's stock after selling 407,187 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.94% of UL Solutions worth $92,410,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new stake in UL Solutions in the second quarter worth about $29,000. Sunbelt Securities Inc. purchased a new stake in shares of UL Solutions in the 2nd quarter worth approximately $72,000. Daiwa Securities Group Inc. purchased a new stake in shares of UL Solutions in the 2nd quarter worth approximately $84,000. TFC Financial Management Inc. bought a new position in shares of UL Solutions during the second quarter valued at approximately $88,000. Finally, Bellecapital International Ltd. purchased a new position in UL Solutions during the second quarter valued at approximately $208,000.
Insiders Place Their Bets
In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
UL Solutions Price Performance
NYSE:ULS traded up $0.92 during trading hours on Friday, hitting $54.04. 638,523 shares of the company were exchanged, compared to its average volume of 725,293. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions Inc. has a 52-week low of $33.15 and a 52-week high of $59.23. The company's 50 day moving average price is $51.25 and its 200-day moving average price is $47.12.
UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.10. The firm had revenue of $731.00 million for the quarter, compared to analyst estimates of $709.41 million. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that UL Solutions Inc. will post 1.53 earnings per share for the current fiscal year.
UL Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 29th will be issued a $0.125 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.50 annualized dividend and a yield of 0.93%.
Wall Street Analyst Weigh In
ULS has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on UL Solutions from $56.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. UBS Group upped their price objective on UL Solutions from $52.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Citigroup started coverage on UL Solutions in a research note on Monday, October 7th. They issued a "buy" rating and a $60.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of UL Solutions from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Finally, Robert W. Baird lifted their price objective on shares of UL Solutions from $53.00 to $57.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, UL Solutions presently has an average rating of "Moderate Buy" and an average target price of $49.00.
Read Our Latest Analysis on UL Solutions
UL Solutions Company Profile
(
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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