Soros Fund Management LLC lifted its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 127.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,137,077 shares of the company's stock after purchasing an additional 637,077 shares during the quarter. UL Solutions comprises approximately 0.8% of Soros Fund Management LLC's portfolio, making the stock its 25th biggest position. Soros Fund Management LLC owned about 0.57% of UL Solutions worth $56,058,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of UL Solutions by 6.9% in the third quarter. FMR LLC now owns 3,565,238 shares of the company's stock valued at $175,766,000 after acquiring an additional 230,886 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in UL Solutions during the second quarter worth $96,262,000. American Century Companies Inc. acquired a new stake in UL Solutions in the second quarter valued at $68,832,000. AltraVue Capital LLC purchased a new position in shares of UL Solutions in the second quarter valued at $35,050,000. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of UL Solutions by 19.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company's stock worth $36,805,000 after buying an additional 122,975 shares during the last quarter.
Insider Transactions at UL Solutions
In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
UL Solutions Stock Performance
Shares of NYSE:ULS traded down $0.58 during midday trading on Friday, hitting $53.06. 71,666 shares of the company's stock traded hands, compared to its average volume of 731,540. UL Solutions Inc. has a twelve month low of $33.15 and a twelve month high of $59.23. The firm's fifty day moving average price is $52.07 and its two-hundred day moving average price is $48.12. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31.
UL Solutions (NYSE:ULS - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.10. The company had revenue of $731.00 million for 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 company's quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts forecast that UL Solutions Inc. will post 1.53 EPS for the current year.
UL Solutions Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, November 29th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.94%.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on UL Solutions from $56.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Robert W. Baird upped their price objective on UL Solutions from $53.00 to $57.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Citigroup assumed coverage on UL Solutions in a research report on Monday, October 7th. They set a "buy" rating and a $60.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of UL Solutions from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Finally, UBS Group lifted 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 research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.00.
Check Out Our Latest Stock Analysis on ULS
UL Solutions Profile
(
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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