Rakuten Investment Management Inc. Invests $1.44 Million in UL Solutions Inc. $ULS

Rakuten Investment Management Inc. purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,265 shares of the company’s stock, valued at approximately $1,436,000.

A number of other hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of UL Solutions during the 3rd quarter worth approximately $97,803,000. Norges Bank purchased a new stake in UL Solutions in the 2nd quarter valued at $89,174,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of UL Solutions in the 2nd quarter worth $52,396,000. Electron Capital Partners LLC purchased a new position in shares of UL Solutions during the 2nd quarter worth $45,558,000. Finally, Bessemer Group Inc. boosted its position in shares of UL Solutions by 32.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company’s stock valued at $137,689,000 after acquiring an additional 460,394 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on ULS. Zacks Research raised shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. Robert W. Baird set a $97.00 target price on UL Solutions and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. UBS Group cut their target price on UL Solutions from $96.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wells Fargo & Company raised their price objective on shares of UL Solutions from $77.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $84.00 target price (up from $70.00) on shares of UL Solutions in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.57.

UL Solutions Stock Down 1.9%

Shares of NYSE ULS opened at $71.19 on Friday. The business has a 50-day moving average of $80.74 and a two-hundred day moving average of $74.89. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 42.63 and a beta of 1.09. UL Solutions Inc. has a 1 year low of $49.34 and a 1 year high of $91.95. 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 posted its earnings results on Tuesday, November 4th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The firm had revenue of $783.00 million during the quarter, compared to analysts’ expectations of $769.01 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Friday, November 28th were given a dividend of $0.13 per share. The ex-dividend date was Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions’s payout ratio is 31.14%.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.