Quantbot Technologies LP Takes $1.73 Million Position in UL Solutions Inc. (NYSE:ULS)

Quantbot Technologies LP purchased a new position in UL Solutions Inc. (NYSE:ULS - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 35,162 shares of the company's stock, valued at approximately $1,733,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ULS. EverSource Wealth Advisors LLC purchased a new stake in UL Solutions in the second quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new position in shares of UL Solutions during the 2nd quarter valued at $72,000. Daiwa Securities Group Inc. purchased a new position in UL Solutions in the 2nd quarter worth $84,000. TFC Financial Management Inc. purchased a new position in UL Solutions in the 2nd quarter worth $88,000. Finally, Phillips Wealth Planners LLC bought a new stake in UL Solutions in the third quarter worth $218,000.

UL Solutions Price Performance

Shares of NYSE ULS traded up $0.20 during midday trading on Friday, hitting $53.73. 218,689 shares of the company traded hands, compared to its average volume of 741,648. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $59.23. The stock has a 50-day moving average price of $51.75 and a 200 day moving average price of $47.74.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.10. The business had revenue of $731.00 million during the quarter, compared to the consensus estimate of $709.41 million. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that UL Solutions Inc. will post 1.53 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Friday, November 29th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, November 29th.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on UL Solutions from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Citigroup began coverage on UL Solutions in a research report on Monday, October 7th. They issued a "buy" rating and a $60.00 price objective for the company. Wells Fargo & Company raised their target price on shares of UL Solutions from $56.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Robert W. Baird upped their price target on shares of UL Solutions from $53.00 to $57.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Finally, UBS Group raised their price target on shares of UL Solutions from $52.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.00.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

UL Solutions Company 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.