Waratah Capital Advisors Ltd. Has $5.24 Million Stake in UL Solutions Inc. $ULS

Waratah Capital Advisors Ltd. lowered its holdings in UL Solutions Inc. (NYSE:ULS) by 59.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,972 shares of the company’s stock after selling 105,527 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in UL Solutions were worth $5,244,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC bought a new stake in UL Solutions during the 1st quarter worth about $57,999,000. DekaBank Deutsche Girozentrale bought a new position in shares of UL Solutions in the second quarter worth about $52,396,000. Bessemer Group Inc. lifted its position in shares of UL Solutions by 32.2% during the second quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company’s stock worth $137,689,000 after purchasing an additional 460,394 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of UL Solutions by 64.6% during the second quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock valued at $85,193,000 after purchasing an additional 458,972 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of UL Solutions in the second quarter valued at approximately $32,124,000.

UL Solutions Stock Performance

Shares of ULS stock opened at $86.83 on Friday. The stock has a 50-day moving average of $75.16 and a 200-day moving average of $71.19. UL Solutions Inc. has a one year low of $48.54 and a one year high of $91.95. The stock has a market cap of $17.44 billion, a PE ratio of 51.99 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. UL Solutions had a net margin of 11.29% and a return on equity of 34.49%. The company had revenue of $783.00 million for the quarter, compared to analysts’ expectations of $769.01 million. During the same period last year, the firm posted $0.49 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Friday, November 28th will be given a $0.13 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.6%. UL Solutions’s payout ratio is currently 31.14%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ULS. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of UL Solutions in a report on Thursday. UBS Group upped their price target on UL Solutions from $75.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group raised their price target on UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Wells Fargo & Company boosted their price objective on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $84.00 price target (up previously from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $81.71.

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.