Bowen Hanes & Co. Inc. Takes $11.84 Million Position in UL Solutions Inc. $ULS

Key Points

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Bowen Hanes & Co. Inc. bought a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 210,000 shares of the company's stock, valued at approximately $11,844,000. Bowen Hanes & Co. Inc. owned 0.10% of UL Solutions at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elequin Capital LP acquired a new position in shares of UL Solutions in the 1st quarter valued at approximately $31,000. Quarry LP acquired a new position in shares of UL Solutions in the 4th quarter valued at approximately $32,000. Rhumbline Advisers acquired a new position in shares of UL Solutions in the 1st quarter valued at approximately $49,000. Argent Trust Co acquired a new position in shares of UL Solutions in the 1st quarter valued at approximately $208,000. Finally, Phillips Wealth Planners LLC acquired a new position in shares of UL Solutions in the 1st quarter valued at approximately $226,000.

UL Solutions Stock Performance

ULS traded up $0.2210 during trading on Friday, hitting $65.4210. 948,005 shares of the company traded hands, compared to its average volume of 817,043. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55. The firm has a market cap of $13.14 billion, a P/E ratio of 40.38 and a beta of 1.00. UL Solutions Inc. has a one year low of $46.79 and a one year high of $74.15. The stock's fifty day moving average is $69.97 and its 200 day moving average is $63.26.

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

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders 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 payout ratio is 32.10%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup reaffirmed a "neutral" rating and set a $71.00 price target (up from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Wells Fargo & Company lifted their price target on shares of UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Raymond James Financial lifted their price target on shares of UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. UBS Group decreased their price target 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of UL Solutions from $64.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $70.86.

About UL Solutions

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.