UL Solutions Inc. $ULS Shares Sold by Voleon Capital Management LP

Voleon Capital Management LP decreased its holdings in UL Solutions Inc. (NYSE:ULS) by 62.5% in the first quarter, HoldingsChannel.com reports. The firm owned 10,784 shares of the company’s stock after selling 17,949 shares during the quarter. Voleon Capital Management LP’s holdings in UL Solutions were worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ULS. Elequin Capital LP acquired a new stake in UL Solutions in the first quarter valued at approximately $31,000. Rhumbline Advisers purchased a new position in shares of UL Solutions during the 1st quarter valued at approximately $49,000. Argent Trust Co acquired a new stake in UL Solutions in the 1st quarter valued at $208,000. Phillips Wealth Planners LLC purchased a new stake in UL Solutions in the 1st quarter worth $226,000. Finally, Cresset Asset Management LLC purchased a new stake in UL Solutions in the 1st quarter worth $226,000.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ULS shares. Citigroup reiterated a “neutral” rating and issued a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. JPMorgan Chase & Co. raised their price target on shares of UL Solutions from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Finally, UBS Group cut their price objective on UL Solutions from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $70.86.

UL Solutions Stock Performance

NYSE:ULS opened at $65.73 on Wednesday. The company has a market cap of $13.20 billion, a P/E ratio of 40.58 and a beta of 0.98. UL Solutions Inc. has a twelve month low of $46.79 and a twelve month high of $74.15. The company’s 50-day moving average price is $68.10 and its 200-day moving average price is $64.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.52 earnings per share (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 company had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $771.55 million. During the same quarter in the prior year, the company earned $0.44 EPS. UL Solutions’s revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 29th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions’s dividend payout ratio (DPR) is currently 32.10%.

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.