Charles Schwab Investment Management Inc. increased its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 52.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 342,707 shares of the company's stock after acquiring an additional 117,794 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.17% of UL Solutions worth $16,895,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in ULS. Victory Capital Management Inc. lifted its stake in shares of UL Solutions by 377.1% in the 3rd quarter. Victory Capital Management Inc. now owns 23,540 shares of the company's stock valued at $1,161,000 after purchasing an additional 18,606 shares during the period. Renaissance Technologies LLC acquired a new position in UL Solutions in the second quarter valued at approximately $3,536,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of UL Solutions during the 3rd quarter worth approximately $9,615,000. Federated Hermes Inc. bought a new position in shares of UL Solutions during the 2nd quarter worth approximately $13,636,000. Finally, Discovery Capital Management LLC CT acquired a new stake in shares of UL Solutions during the 2nd quarter worth approximately $1,055,000.
UL Solutions Stock Performance
ULS traded down $0.29 during mid-day trading on Friday, reaching $53.35. 522,335 shares of the stock were exchanged, compared to its average volume of 571,956. UL Solutions Inc. has a 1 year low of $33.15 and a 1 year high of $59.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The company has a 50 day moving average price of $52.15 and a two-hundred day moving average price of $48.33.
UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.10. The business had revenue of $731.00 million for the quarter, compared to analysts' expectations of $709.41 million. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts forecast that UL Solutions Inc. will post 1.53 EPS for the current year.
UL Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 29th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 29th.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Citigroup initiated coverage on shares of UL Solutions in a research note on Monday, October 7th. They set a "buy" rating and a $60.00 target price on the stock. The Goldman Sachs Group increased their price objective on shares of UL Solutions from $45.00 to $51.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on UL Solutions from $56.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Robert W. Baird increased their price target on UL Solutions from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Finally, UBS Group boosted their price objective on UL Solutions from $52.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.00.
Check Out Our Latest Analysis on UL Solutions
Insider Buying and Selling
In related 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
About UL Solutions
(
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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