Weiss Asset Management LP Sells 64,989 Shares of UL Solutions Inc. (NYSE:ULS)

Weiss Asset Management LP trimmed its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 86.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the company's stock after selling 64,989 shares during the period. Weiss Asset Management LP's holdings in UL Solutions were worth $493,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ULS. Stone House Investment Management LLC acquired a new stake in UL Solutions in the third quarter worth $25,000. EverSource Wealth Advisors LLC bought a new position in UL Solutions during the second quarter worth about $29,000. Northwest & Ethical Investments L.P. acquired a new position in UL Solutions in the third quarter valued at about $84,000. Sunbelt Securities Inc. bought a new stake in shares of UL Solutions in the second quarter worth about $72,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of UL Solutions during the second quarter worth about $84,000.

UL Solutions Trading Down 0.1 %

NYSE ULS traded down $0.03 on Tuesday, hitting $52.31. 500,354 shares of the stock were exchanged, compared to its average volume of 732,523. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The business's fifty day moving average is $52.21 and its 200 day moving average is $48.41. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week high of $59.23.

UL Solutions (NYSE:ULS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 10.76% and a return on equity of 40.88%. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts anticipate that UL Solutions Inc. will post 1.53 earnings per share for the current year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Friday, November 29th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Friday, November 29th.

Analyst Ratings Changes

ULS has been the topic of several research analyst reports. Citigroup initiated coverage on shares of UL Solutions in a report on Monday, October 7th. They set a "buy" rating and a $60.00 target price on the stock. The Goldman Sachs Group increased their target price on UL Solutions from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. UBS Group boosted their price target on UL Solutions from $52.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their price objective on UL Solutions from $56.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Finally, Robert W. Baird boosted their target price on UL Solutions from $53.00 to $57.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, UL Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $49.00.

Insider Buying and Selling at UL Solutions

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UL Solutions 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.