Candriam S.C.A. Takes $3.11 Million Position in UL Solutions Inc. $ULS

Key Points

• Candriam S.C.A. has acquired a new stake in UL Solutions Inc., purchasing 55,117 shares valued at approximately $3.1 million in the 1st quarter.
• Analysts have raised their price targets for UL Solutions, with Wells Fargo increasing its target from $65.00 to $77.00 and Citigroup setting a new target of $71.00.
• UL Solutions announced a quarterly dividend of $0.13 per share, to be paid on September 8th, which reflects an annualized yield of 0.8%.

Candriam S.C.A. bought a new stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 55,117 shares of the company's stock, valued at approximately $3,109,000.

Several other large investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its stake in UL Solutions by 7.2% during the first 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 in the last quarter. Bowen Hanes & Co. Inc. purchased a new stake in shares of UL Solutions during the first quarter valued at $11,844,000. Wellington Management Group LLP lifted its holdings in shares of UL Solutions by 11.7% during the first quarter. Wellington Management Group LLP now owns 718,737 shares of the company's stock valued at $40,537,000 after purchasing an additional 75,381 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of UL Solutions by 26.8% during the first quarter. Northern Trust Corp now owns 232,946 shares of the company's stock valued at $13,138,000 after purchasing an additional 49,222 shares during the last quarter. Finally, Elequin Capital LP purchased a new stake in shares of UL Solutions during the first quarter valued at $31,000.

UL Solutions Stock Up 1.0%

ULS stock traded up $0.60 during mid-day trading on Tuesday, hitting $63.23. The stock had a trading volume of 860,649 shares, compared to its average volume of 816,544. 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 Inc. has a 1-year low of $46.79 and a 1-year high of $74.15. The company has a fifty day moving average of $69.80 and a 200 day moving average of $63.44. The stock has a market capitalization of $12.70 billion, a price-to-earnings ratio of 39.03 and a beta of 1.00.

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

UL Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on ULS. Raymond James Financial upped their target price on UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upped 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. The Goldman Sachs Group upped their target price on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Wells Fargo & Company upped their target price on UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, UBS Group reduced their target price on UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.