Alyeska Investment Group L.P. Sells 495,923 Shares of 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 holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 70.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 206,876 shares of the company's stock after selling 495,923 shares during the period. Alyeska Investment Group L.P. owned about 0.10% of UL Solutions worth $11,668,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Elequin Capital LP acquired a new stake in shares of UL Solutions during the 1st quarter worth about $31,000. Connecticut Wealth Management LLC lifted its stake in UL Solutions by 5.7% in the first quarter. Connecticut Wealth Management LLC now owns 10,785 shares of the company's stock valued at $608,000 after buying an additional 585 shares during the last quarter. Algert Global LLC lifted its position in UL Solutions by 0.9% during the 1st quarter. Algert Global LLC now owns 83,530 shares of the company's stock worth $4,711,000 after acquiring an additional 782 shares during the period. Rhumbline Advisers acquired a new position in UL Solutions during the first quarter worth $49,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in UL Solutions by 5.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,338 shares of the company's stock worth $1,034,000 after acquiring an additional 900 shares during the period.

UL Solutions Stock Up 0.3%

ULS traded up $0.19 during trading on Wednesday, reaching $65.80. 110,538 shares of the stock traded hands, compared to its average volume of 813,343. The stock has a market cap of $13.22 billion, a price-to-earnings ratio of 40.62 and a beta of 0.98. UL Solutions Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $74.15. 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 stock's 50-day simple moving average is $68.10 and its two-hundred day simple moving average is $64.01.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%.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 previous year, the firm earned $0.44 earnings per share. The business's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts expect 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 was paid on Monday, September 8th. Shareholders of record on Friday, August 29th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.8%. UL Solutions's payout ratio is currently 32.10%.

Wall Street Analyst Weigh In

ULS has been the topic of a number of research analyst reports. UBS Group decreased their target price on UL Solutions from $72.00 to $70.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Citigroup restated a "neutral" rating and set a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. increased their target price 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $70.86.

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.