American Century Companies Inc. Increases Stock Position in UL Solutions Inc. $ULS

Key Points

• American Century Companies Inc. increased its stake in UL Solutions Inc. by 29.4%, owning 550,338 shares worth approximately $31 million as of the latest SEC filing.
• UL Solutions reported $0.52 EPS for the quarter, exceeding estimates, along with revenues of $776 million, marking a 6.3% increase year-over-year.
• The company declared a quarterly dividend of $0.13 per share, scheduled for payment on September 8th, reflecting an annualized yield of 0.8%.

American Century Companies Inc. boosted its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 29.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 550,338 shares of the company's stock after purchasing an additional 125,031 shares during the quarter. American Century Companies Inc. owned about 0.27% of UL Solutions worth $31,039,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in UL Solutions by 1.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company's stock worth $252,333,000 after purchasing an additional 82,261 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in UL Solutions by 88.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company's stock worth $210,729,000 after purchasing an additional 1,987,295 shares in the last quarter. Janus Henderson Group PLC lifted its stake in UL Solutions by 3.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,389,077 shares of the company's stock worth $119,164,000 after purchasing an additional 81,426 shares in the last quarter. Bessemer Group Inc. purchased a new stake in UL Solutions in the 1st quarter worth $80,618,000. Finally, Conestoga Capital Advisors LLC lifted its stake in UL Solutions by 0.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 710,302 shares of the company's stock worth $40,061,000 after purchasing an additional 4,367 shares in the last quarter.

UL Solutions Stock Performance

Shares of NYSE:ULS opened at $65.2280 on Friday. The company has a market capitalization of $13.10 billion, a price-to-earnings ratio of 40.26 and a beta of 1.00. UL Solutions Inc. has a 12 month low of $46.79 and a 12 month high of $74.15. The firm's 50-day moving average is $70.07 and its 200 day moving average is $63.19. 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 - Get Free Report) last issued 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 company had revenue of $776.00 million for 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 revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. Research analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The company 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 dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 29th. UL Solutions's dividend payout ratio is presently 32.10%.

Wall Street Analyst Weigh In

Several analysts have commented on ULS shares. The Goldman Sachs Group boosted their price target on shares of UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. UBS Group reduced their target price on shares of UL Solutions from $72.00 to $70.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company boosted their target price on shares of UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $71.00 target price (up from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Finally, Robert W. Baird boosted their target price on shares of UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Three 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, the company has an average rating of "Hold" and a consensus 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.

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