Argent Capital Management LLC Acquires New Shares in UL Solutions Inc. $ULS

Key Points

• Argent Capital Management LLC acquired 35,830 shares of UL Solutions Inc., valued at approximately $2.6 million, indicating significant investment interest in the company.
• UL Solutions reported a quarterly earnings per share of $0.52, beating estimates and showing a year-over-year revenue increase of 6.3%.
• The company declared a quarterly dividend of $0.13, resulting in an annualized dividend yield of 0.8%, reflecting its commitment to returning value to shareholders.

Argent Capital Management LLC acquired a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 35,830 shares of the company's stock, valued at approximately $2,611,000.

Several other hedge funds have also recently bought and sold shares of ULS. Bessemer Group Inc. purchased a new position in UL Solutions in the 1st quarter valued at approximately $80,618,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in UL Solutions during the 1st quarter valued at $57,999,000. Wellington Management Group LLP acquired a new stake in UL Solutions during the 4th quarter valued at $32,091,000. T. Rowe Price Investment Management Inc. grew its holdings in UL Solutions by 7.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,530,367 shares of the company's stock valued at $255,513,000 after buying an additional 305,658 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in UL Solutions by 104.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company's stock valued at $25,953,000 after buying an additional 234,913 shares during the last quarter.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $68.53 on Tuesday. The company has a market cap of $13.77 billion, a price-to-earnings ratio of 42.30 and a beta of 0.98. 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 50 day simple moving average of $67.39 and a 200 day simple moving average of $65.01. UL Solutions Inc. has a one year low of $48.41 and a one year high of $74.15.

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 (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The firm had revenue of $776.00 million during the quarter, compared to analysts' expectations of $771.55 million. During the same period in the prior year, the company posted $0.44 EPS. The company's revenue was up 6.3% on a year-over-year basis. Research analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have commented on ULS. UBS Group lowered their target price on UL Solutions from $72.00 to $70.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on UL Solutions from $64.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $70.86.

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.

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