Victory Capital Management Inc. Increases Holdings in UL Solutions Inc. (NYSE:ULS)

Victory Capital Management Inc. raised its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 377.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,540 shares of the company's stock after purchasing an additional 18,606 shares during the quarter. Victory Capital Management Inc.'s holdings in UL Solutions were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of ULS. EverSource Wealth Advisors LLC bought a new stake in shares of UL Solutions during the second quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new stake in UL Solutions in the second quarter valued at approximately $72,000. Daiwa Securities Group Inc. acquired a new stake in UL Solutions in the second quarter worth $84,000. TFC Financial Management Inc. acquired a new position in shares of UL Solutions in the 2nd quarter valued at $88,000. Finally, Phillips Wealth Planners LLC bought a new stake in shares of UL Solutions in the 3rd quarter valued at $218,000.

UL Solutions Trading Down 1.4 %

Shares of NYSE ULS traded down $0.74 during midday trading on Wednesday, reaching $53.64. The company's stock had a trading volume of 374,203 shares, compared to its average volume of 744,937. 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 firm has a 50 day moving average price of $51.57 and a 200-day moving average price of $47.50. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $59.23.

UL Solutions (NYSE:ULS - Get Free Report) last posted its 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 firm had revenue of $731.00 million during the quarter, compared to the consensus estimate of $709.41 million. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The company's revenue was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that UL Solutions Inc. will post 1.53 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, November 29th.

Insider Buying and Selling at UL Solutions

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the business'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 sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of UL Solutions from $53.00 to $57.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. The Goldman Sachs Group increased 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. Wells Fargo & Company upped their price target on UL Solutions from $56.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Citigroup initiated coverage on shares of UL Solutions in a report on Monday, October 7th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, UBS Group increased their target price 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 company. According to MarketBeat, UL Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $49.00.

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.