Acadian Asset Management LLC Has $60.24 Million Stake in UL Solutions Inc. $ULS

Key Points

• Acadian Asset Management LLC reduced its holdings in UL Solutions Inc. by 19.4% during the first quarter, bringing their ownership to approximately 1,068,327 shares valued at $60.24 million.
• Goldman Sachs Group Inc. increased its position in UL Solutions by an impressive 104.3%, now owning 460,160 shares valued at $25.95 million.
• UL Solutions has recently reported a net margin of 11.08% and a quarterly revenue of $776 million, exceeding analysts' estimates.

Acadian Asset Management LLC reduced its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,068,327 shares of the company's stock after selling 257,437 shares during the period. Acadian Asset Management LLC owned about 0.53% of UL Solutions worth $60,240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Elequin Capital LP bought a new position in shares of UL Solutions in the first quarter worth $31,000. Rhumbline Advisers bought a new position in UL Solutions during the first quarter valued at about $49,000. Argent Trust Co bought a new position in UL Solutions during the first quarter valued at about $208,000. Phillips Wealth Planners LLC bought a new position in UL Solutions during the first quarter valued at about $226,000. Finally, Cresset Asset Management LLC bought a new position in UL Solutions during the first quarter valued at about $226,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ULS shares. UBS Group reduced their target price on UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price objective on UL Solutions from $64.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $70.86.

UL Solutions Stock Performance

Shares of NYSE:ULS traded down $0.90 during trading on Tuesday, hitting $66.65. 155,601 shares of the stock were exchanged, compared to its average volume of 809,437. UL Solutions Inc. has a 1-year low of $48.11 and a 1-year high of $74.15. The company has a market capitalization of $13.39 billion, a price-to-earnings ratio of 41.19 and a beta of 0.97. The company's fifty day simple moving average is $67.76 and its 200-day simple moving average is $64.47. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.32.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. The company had revenue of $776.00 million for the quarter, compared to analyst estimates of $771.55 million. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%.UL Solutions's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. Sell-side analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 29th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, August 29th. UL Solutions's dividend payout ratio is presently 32.10%.

About UL Solutions

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.