Millennium Management LLC Acquires Shares of 153,421 UL Solutions Inc. (NYSE:ULS)

Millennium Management LLC bought a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 153,421 shares of the company's stock, valued at approximately $6,473,000. Millennium Management LLC owned approximately 0.08% of UL Solutions at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new position in UL Solutions in the second quarter valued at approximately $3,776,000. Sandia Investment Management LP bought a new stake in UL Solutions in the 2nd quarter valued at $738,000. Marshall Wace LLP bought a new stake in UL Solutions in the 2nd quarter valued at $12,396,000. Davidson Kempner Capital Management LP acquired a new position in UL Solutions in the 2nd quarter worth $6,961,000. Finally, Discovery Capital Management LLC CT bought a new position in UL Solutions during the 2nd quarter worth about $1,055,000.

Wall Street Analysts Forecast Growth

ULS has been the topic of a number of research reports. The Goldman Sachs Group boosted their price target on UL Solutions from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their target price on UL Solutions from $43.00 to $56.00 and gave the company an "overweight" 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. Citigroup assumed coverage on shares of UL Solutions in a report on Monday. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Robert W. Baird increased their target price 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $45.80.

UL Solutions Stock Performance

ULS stock traded up $0.79 during trading hours on Friday, reaching $52.49. The stock had a trading volume of 588,216 shares, compared to its average volume of 771,967. The company's 50-day moving average is $50.90. 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.

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

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors 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 dividend yield of 0.95%. The ex-dividend date was Friday, August 30th.

Insider Activity at UL Solutions

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm's 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

UL Solutions Profile

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.