Conestoga Capital Advisors LLC raised its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 708,513 shares of the company's stock after acquiring an additional 15,722 shares during the period. Conestoga Capital Advisors LLC owned approximately 0.35% of UL Solutions worth $34,930,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of ULS. Renaissance Technologies LLC purchased a new stake in shares of UL Solutions during the 2nd quarter valued at approximately $3,536,000. Federated Hermes Inc. acquired a new position in shares of UL Solutions in the 2nd quarter valued at $13,636,000. Discovery Capital Management LLC CT purchased a new position in shares of UL Solutions during the 2nd quarter worth $1,055,000. Raymond James & Associates acquired a new stake in shares of UL Solutions during the 2nd quarter worth about $9,089,000. Finally, Ghisallo Capital Management LLC purchased a new stake in UL Solutions in the 2nd quarter valued at about $20,040,000.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on ULS shares. Robert W. Baird boosted their price target 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. Citigroup began coverage on UL Solutions in a research report on Monday, October 7th. They set a "buy" rating and a $60.00 price target for the company. The Goldman Sachs Group boosted their price objective 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 raised their target price on UL Solutions from $43.00 to $56.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Finally, Baird R W cut shares of UL Solutions from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 12th. Four equities research 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 price target of $45.80.
Check Out Our Latest Analysis on UL Solutions
Insiders Place Their Bets
In related 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 value of $147,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
UL Solutions Price Performance
NYSE ULS traded down $0.36 during trading hours on Friday, hitting $51.60. The company had a trading volume of 558,789 shares, compared to its average volume of 736,767. The business has a 50 day moving average of $51.42 and a 200-day moving average of $45.17. 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 1-year low of $33.15 and a 1-year high of $56.28.
UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.06. The business had revenue of $730.00 million for the quarter, compared to analysts' expectations of $718.73 million. UL Solutions's quarterly revenue was up 6.0% on a year-over-year basis. Analysts forecast that UL Solutions Inc. will post 1.48 earnings per share for the current fiscal year.
UL Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were given a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a yield of 0.97%.
UL Solutions Company Profile
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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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