Strs Ohio Raises Stake in UL Solutions Inc. $ULS

Strs Ohio boosted its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 25.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 68,900 shares of the company’s stock after purchasing an additional 13,900 shares during the period. Strs Ohio’s holdings in UL Solutions were worth $5,020,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bessemer Group Inc. grew its position in UL Solutions by 32.2% during the 2nd 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 during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of UL Solutions in the 2nd quarter worth $1,933,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of UL Solutions by 1,501.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,979 shares of the company’s stock worth $217,000 after acquiring an additional 2,793 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of UL Solutions in the 2nd quarter worth $52,396,000. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of UL Solutions by 64.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock worth $85,193,000 after acquiring an additional 458,972 shares during the period.

UL Solutions Stock Down 0.7%

Shares of NYSE ULS opened at $77.78 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55. UL Solutions Inc. has a 52 week low of $48.54 and a 52 week high of $81.84. The firm has a 50-day moving average price of $70.69 and a 200 day moving average price of $69.23. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 48.01 and a beta of 1.05.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The firm had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $771.55 million. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 29th were given a dividend of $0.13 per share. The ex-dividend date was Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 0.7%. UL Solutions’s payout ratio is presently 32.10%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group raised their target price on shares of UL Solutions from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “buy (b)” rating on shares of UL Solutions in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of UL Solutions from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, UL Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $71.57.

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.