AEGON ASSET MANAGEMENT UK Plc Raises Position in UL Solutions Inc. $ULS

Key Points

• AEGON ASSET MANAGEMENT UK Plc increased its stake in UL Solutions Inc. by 55.7%, holding 427,171 shares valued at approximately $31 million as of the latest SEC filing.
• UL Solutions reported a 7.2% increase in stock price, reaching $77.58, alongside quarterly earnings of $0.52 per share, surpassing analyst expectations.
• The company announced a quarterly dividend of $0.13, which was paid on September 8th, resulting in an annualized dividend yield of 0.7%.

AEGON ASSET MANAGEMENT UK Plc boosted its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 55.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,171 shares of the company's stock after buying an additional 152,788 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.21% of UL Solutions worth $31,090,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elequin Capital LP purchased a new position in UL Solutions in the 1st quarter worth approximately $31,000. Rhumbline Advisers purchased a new position in UL Solutions in the 1st quarter worth approximately $49,000. LRI Investments LLC purchased a new position in UL Solutions in the 2nd quarter worth approximately $128,000. Argent Trust Co purchased a new position in UL Solutions in the 1st quarter worth approximately $208,000. Finally, Phillips Wealth Planners LLC purchased a new position in UL Solutions in the 1st quarter worth approximately $226,000.

UL Solutions Stock Up 7.2%

ULS stock opened at $77.58 on Wednesday. The firm has a market cap of $15.58 billion, a PE ratio of 47.89 and a beta of 1.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.32. The firm's 50 day moving average price is $67.70 and its 200-day moving average price is $67.00. UL Solutions Inc. has a one year low of $48.54 and a one year high of $79.05.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. The firm had revenue of $776.00 million for the quarter, compared to analyst estimates of $771.55 million. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. On average, equities research analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The business also recently announced 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 yield of 0.7%. The ex-dividend date was Friday, August 29th. UL Solutions's dividend payout ratio (DPR) is 32.10%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in 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. Weiss Ratings reissued 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 research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average 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.

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