Baird Financial Group Inc. Buys 13,037 Shares of UL Solutions Inc. $ULS

Key Points

• Baird Financial Group Inc. has increased its stake in UL Solutions Inc. by 10.3%, now owning 139,724 shares valued at approximately $7.88 million.
• UL Solutions recently reported earnings per share of $0.52 for the last quarter, exceeding analysts' estimates and showing a year-over-year revenue increase of 6.3%.
• Shareholders will receive a quarterly dividend of $0.13 per share on September 8, reflecting a 0.8% dividend yield.

Baird Financial Group Inc. boosted its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,724 shares of the company's stock after purchasing an additional 13,037 shares during the quarter. Baird Financial Group Inc. owned about 0.07% of UL Solutions worth $7,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ULS. Elequin Capital LP acquired a new stake in shares of UL Solutions during the first quarter worth $31,000. Rhumbline Advisers bought a new position in UL Solutions during the first quarter worth about $49,000. Argent Trust Co bought a new position in UL Solutions during the first quarter worth about $208,000. Phillips Wealth Planners LLC bought a new position in UL Solutions during the first quarter worth about $226,000. Finally, Cresset Asset Management LLC bought a new position in UL Solutions during the first quarter worth about $226,000.

UL Solutions Stock Down 2.0%

Shares of NYSE ULS opened at $62.71 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 38.71 and a beta of 0.97. UL Solutions Inc. has a 12 month low of $46.79 and a 12 month high of $74.15. The stock has a 50-day moving average price of $68.70 and a two-hundred day moving average price of $63.69.

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

UL Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 29th. UL Solutions's dividend payout ratio is presently 32.10%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ULS shares. Citigroup reaffirmed a "neutral" rating and set a $71.00 price target (up from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. UBS Group lowered their price target on shares of UL Solutions from $72.00 to $70.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. The Goldman Sachs Group boosted their price target on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Robert W. Baird boosted their price target on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Raymond James Financial boosted their price target on UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock 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.

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