Renaissance Technologies LLC Buys Shares of 83,800 UL Solutions Inc. (NYSE:ULS)

Renaissance Technologies LLC acquired a new position in UL Solutions Inc. (NYSE:ULS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 83,800 shares of the company's stock, valued at approximately $3,536,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Daiwa Securities Group Inc. acquired a new stake in shares of UL Solutions in the second quarter worth $84,000. TFC Financial Management Inc. acquired a new position in UL Solutions during the 2nd quarter valued at $88,000. Bellecapital International Ltd. acquired a new position in UL Solutions during the 2nd quarter valued at $208,000. Victory Capital Management Inc. acquired a new position in UL Solutions during the 2nd quarter valued at $208,000. Finally, Levin Capital Strategies L.P. acquired a new position in UL Solutions during the 2nd quarter valued at $295,000.

Insiders Place Their Bets

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction dated 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 document filed with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Several research firms recently commented on ULS. The Goldman Sachs Group upped their target price on shares of UL Solutions from $40.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. Robert W. Baird upped their target price on shares of UL Solutions from $46.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. Baird R W cut shares of UL Solutions from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 12th. Finally, Wells Fargo & Company upped their target price on shares of UL Solutions from $43.00 to $56.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.90.

UL Solutions Stock Up 0.1 %

ULS opened at $49.50 on Monday. The stock has a 50-day moving average price of $50.20. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29. UL Solutions Inc. has a twelve month low of $33.15 and a twelve month high of $56.28.

UL Solutions (NYSE:ULS - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.06. The firm had revenue of $730.00 million during the quarter, compared to the consensus estimate of $718.73 million. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts expect that UL Solutions Inc. will post 1.46 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 30th were issued a dividend of $0.125 per share. 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.