California State Teachers Retirement System Has $886.55 Million Holdings in UL Solutions Inc. $ULS

Key Points

• California State Teachers Retirement System dramatically increased its UL Solutions stake by 10,220.7% in the second quarter, bringing its holdings to 8.7 million shares worth approximately $886.6 million, or 4.31% of the company.
• UL Solutions exceeded quarterly expectations, reporting $0.59 in EPS on $816 million in revenue, with revenue up 5.2% year over year. The company also maintains a quarterly dividend of $0.145 per share, yielding about 0.8% annually.
• Shares opened at $71.35, below their 50-day and 200-day moving averages, while analysts hold a “Moderate Buy” consensus with an average price target of $96.78. Company insiders, including the CEO, sold 37,500 shares worth $3.3 million over the past 90 days.

California State Teachers Retirement System raised its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 10,220.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,703,631 shares of the company's stock after acquiring an additional 8,619,299 shares during the period. California State Teachers Retirement System owned about 4.31% of UL Solutions worth $886,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Cresset Asset Management LLC increased its holdings in UL Solutions by 4.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,174 shares of the company's stock worth $304,000 after purchasing an additional 159 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in UL Solutions by 1.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 15,155 shares of the company's stock valued at $1,195,000 after acquiring an additional 194 shares in the last quarter. Deutsche Bank AG boosted its position in UL Solutions by 6.0% during the 4th quarter. Deutsche Bank AG now owns 3,677 shares of the company's stock worth $290,000 after acquiring an additional 207 shares during the last quarter. Parallel Advisors LLC grew its position in UL Solutions by 349.3% in the first quarter. Parallel Advisors LLC now owns 301 shares of the company's stock valued at $26,000 after purchasing an additional 234 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of UL Solutions by 42.4% during the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the company's stock worth $84,000 after buying an additional 245 shares during the last quarter.

Insider Buying and Selling at UL Solutions

In related news, CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $73.66, for a total transaction of $920,750.00. Following the completion of the sale, the chief executive officer directly owned 139,224 shares of the company's stock, valued at approximately $10,255,239.84. This trade represents a 8.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 37,500 shares of company stock worth $3,312,000 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

UL Solutions Price Performance

NYSE:ULS opened at $71.35 on Monday. The company has a market cap of $14.41 billion, a P/E ratio of 28.89, a P/E/G ratio of 2.96 and a beta of 0.63. The firm's fifty day moving average price is $80.83 and its two-hundred day moving average price is $87.81. UL Solutions Inc. has a one year low of $66.17 and a one year high of $107.54. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42.

UL Solutions (NYSE:ULS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The company had revenue of $816.00 million during the quarter, compared to analysts' expectations of $813.62 million. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. UL Solutions's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. Equities analysts expect that UL Solutions Inc. will post 2.08 earnings per share for the current year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were paid a dividend of $0.145 per share. The ex-dividend date was Monday, August 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.8%. UL Solutions's dividend payout ratio (DPR) is 23.48%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group dropped their target price on UL Solutions from $110.00 to $96.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Citigroup lowered their price target on UL Solutions from $106.40 to $82.80 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $86.00 price objective on UL Solutions in a research note on Wednesday, August 5th. Robert W. Baird set a $95.00 price objective on UL Solutions in a report on Wednesday, August 5th. Finally, Wells Fargo & Company decreased their target price on shares of UL Solutions from $120.00 to $104.00 and set an "overweight" rating for the company in a research note on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $96.78.

UL Solutions Profile

UL Solutions Inc NYSE: ULS is a global applied safety science company that provides testing, inspection, certification, verification and advisory services. The company helps manufacturers, retailers, regulators and other organizations assess whether products, systems and processes meet applicable safety, security, performance and sustainability requirements.

Its services cover a broad range of industries and technologies, including consumer products, industrial equipment, energy and utilities, chemicals, mobility, information technology and the built environment.

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