Fenimore Asset Management Inc Acquires New Shares in UL Solutions Inc. $ULS

Fenimore Asset Management Inc acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 177,751 shares of the company’s stock, valued at approximately $11,664,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its position in UL Solutions by 10.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock worth $463,618,000 after purchasing an additional 545,528 shares during the period. Bessemer Group Inc. lifted its holdings in shares of UL Solutions by 2.0% during the 1st quarter. Bessemer Group Inc. now owns 2,265,772 shares of the company’s stock valued at $194,199,000 after buying an additional 44,103 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of UL Solutions by 12.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,744,523 shares of the company’s stock worth $147,534,000 after buying an additional 193,610 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of UL Solutions by 0.3% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,049,607 shares of the company’s stock worth $89,962,000 after buying an additional 3,031 shares during the last quarter. Finally, Electron Capital Partners LLC grew its holdings in shares of UL Solutions by 8.8% in the fourth quarter. Electron Capital Partners LLC now owns 855,439 shares of the company’s stock worth $67,460,000 after acquiring an additional 69,116 shares during the period.

UL Solutions Stock Performance

Shares of ULS stock traded up $3.58 during trading hours on Thursday, reaching $70.71. 2,140,246 shares of the company traded hands, compared to its average volume of 945,696. The firm has a 50-day moving average price of $73.00 and a 200 day moving average price of $85.65. The company has a market cap of $14.28 billion, a P/E ratio of 28.63, a P/E/G ratio of 2.84 and a beta of 0.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. UL Solutions Inc. has a 12-month low of $63.17 and a 12-month high of $107.54.

UL Solutions (NYSE:ULS) last released its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The company had revenue of $816.00 million during the quarter, compared to analyst estimates of $813.62 million. During the same period in the prior year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that UL Solutions Inc. will post 2.08 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were given a dividend of $0.1450 per share. This represents a $0.58 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, August 31st. UL Solutions’s dividend payout ratio (DPR) is presently 23.48%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group lowered their target price on UL Solutions from $110.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Citigroup reduced their price target on shares of UL Solutions from $106.40 to $82.80 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Robert W. Baird lowered their price objective on shares of UL Solutions from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, September 24th. Wall Street Zen lowered shares of UL Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of UL Solutions in a report on Monday, September 21st. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, UL Solutions presently has an average rating of “Moderate Buy” and an average target price of $95.78.

Insider Buying and Selling at UL Solutions

In related news, CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $73.66, for a total transaction of $920,750.00. Following the transaction, the chief executive officer owned 139,224 shares in the company, valued at approximately $10,255,239.84. The trade was a 8.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

UL Solutions Company Profile

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that helps organizations assess and manage safety, security, sustainability and performance risks. The company provides testing, inspection and certification services, along with advisory and software solutions, for products, facilities, systems and supply chains.

Its services support a broad range of industries, including consumer products, industrial equipment, energy, mobility, information technology and the built environment.