Alyeska Investment Group L.P. Decreases Stake in UL Solutions Inc. $ULS

Key Points

• Alyeska Investment Group L.P. has reduced its stake in UL Solutions Inc. by 70.6%, selling 495,923 shares and now owning approximately 0.10% of the company.
• UL Solutions reported earnings of $0.52 per share, exceeding analysts' expectations, with a revenue of $776 million for the quarter.
• The company will pay a quarterly dividend of $0.13 per share on September 8th, reflecting a 0.8% dividend yield and a payout ratio of 32.10%.

Alyeska Investment Group L.P. reduced its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 70.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,876 shares of the company's stock after selling 495,923 shares during the period. Alyeska Investment Group L.P. owned approximately 0.10% of UL Solutions worth $11,668,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ULS. Royal Bank of Canada raised its holdings in UL Solutions by 119.5% during the first quarter. Royal Bank of Canada now owns 143,431 shares of the company's stock worth $8,090,000 after buying an additional 78,081 shares during the last quarter. Connecticut Wealth Management LLC increased its position in shares of UL Solutions by 5.7% during the first quarter. Connecticut Wealth Management LLC now owns 10,785 shares of the company's stock worth $608,000 after acquiring an additional 585 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of UL Solutions by 10.3% during the first quarter. Baird Financial Group Inc. now owns 139,724 shares of the company's stock worth $7,880,000 after acquiring an additional 13,037 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of UL Solutions in the 1st quarter worth about $11,118,000. Finally, Gabelli Funds LLC lifted its position in UL Solutions by 0.8% in the 1st quarter. Gabelli Funds LLC now owns 119,000 shares of the company's stock valued at $6,712,000 after acquiring an additional 1,000 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have commented on ULS shares. UBS Group decreased their price objective on UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Citigroup reaffirmed a "neutral" rating and set a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. upped their price target on UL Solutions from $64.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, UL Solutions currently has an average rating of "Hold" and an average price target of $70.86.

UL Solutions Stock Performance

Shares of NYSE ULS traded up $0.46 during mid-day trading on Friday, reaching $63.85. 638,806 shares of the company's stock were exchanged, compared to its average volume of 873,885. The firm has a 50-day moving average price of $68.36 and a two-hundred day moving average price of $63.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $12.83 billion, a price-to-earnings ratio of 35.47 and a beta of 0.98. UL Solutions Inc. has a 52 week low of $46.79 and a 52 week high of $74.15.

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

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 29th. UL Solutions's payout ratio is 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.