Sandia Investment Management LP Takes $738,000 Position in UL Solutions Inc. (NYSE:ULS)

Sandia Investment Management LP purchased a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 17,500 shares of the company's stock, valued at approximately $738,000. UL Solutions makes up about 1.0% of Sandia Investment Management LP's holdings, making the stock its 28th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of UL Solutions during the second quarter worth $96,262,000. American Century Companies Inc. acquired a new position in UL Solutions in the 2nd quarter worth about $68,832,000. AltraVue Capital LLC bought a new position in UL Solutions in the second quarter valued at about $35,050,000. Conestoga Capital Advisors LLC acquired a new stake in shares of UL Solutions during the second quarter valued at about $29,229,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of UL Solutions during the second quarter worth about $25,667,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ULS. Wells Fargo & Company raised their price objective on shares of UL Solutions from $43.00 to $56.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of UL Solutions from $46.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st. Baird R W downgraded UL Solutions from a "strong-buy" rating to a "hold" rating in a report on Friday, July 12th. Finally, The Goldman Sachs Group lifted their target price on UL Solutions from $40.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, UL Solutions has an average rating of "Moderate Buy" and a consensus target price of $43.90.

UL Solutions Stock Up 0.1 %

Shares of NYSE:ULS traded up $0.03 during midday trading on Wednesday, reaching $49.35. The company's stock had a trading volume of 407,521 shares, compared to its average volume of 736,176. UL Solutions Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $56.28. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a 50 day moving average of $49.89.

UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.06. The business had revenue of $730.00 million during the quarter, compared to analyst estimates of $718.73 million. UL Solutions's revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that UL Solutions Inc. will post 1.46 earnings per share for the current year.

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 30th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, August 30th.

About UL Solutions

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.