Cannon Global Investment Management LLC Invests $437,000 in UL Solutions Inc. $ULS

Key Points

• Cannon Global Investment Management LLC invested approximately $437,000 in UL Solutions Inc., acquiring 6,000 shares during the second quarter, as disclosed in their recent SEC filing.
• A range of institutional investors like AEGON ASSET MANAGEMENT UK Plc and Vest Financial LLC significantly increased their stakes in UL Solutions, indicating strong institutional interest in the company.
• UL Solutions reported earnings of $0.52 per share, exceeding estimates, and the stock has a current target price average of $71.57 with an overall "Moderate Buy" rating from analysts.

Cannon Global Investment Management LLC acquired a new position in UL Solutions Inc. (NYSE:ULS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,000 shares of the company's stock, valued at approximately $437,000.

A number of other institutional investors have also recently added to or reduced their stakes in ULS. Twin Tree Management LP bought a new stake in UL Solutions in the second quarter worth approximately $296,000. AEGON ASSET MANAGEMENT UK Plc grew its position in UL Solutions by 55.7% in the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 427,171 shares of the company's stock worth $31,090,000 after acquiring an additional 152,788 shares in the last quarter. Jag Capital Management LLC bought a new stake in UL Solutions in the second quarter worth approximately $249,000. Vest Financial LLC grew its position in UL Solutions by 122.7% in the second quarter. Vest Financial LLC now owns 34,795 shares of the company's stock worth $2,535,000 after acquiring an additional 19,172 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in UL Solutions in the second quarter worth approximately $128,000.

Analyst Ratings Changes

ULS has been the subject of several recent research reports. Weiss Ratings reissued a "buy (b)" rating on shares of UL Solutions in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of UL Solutions from $64.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Finally, UBS Group increased their price target on UL Solutions from $70.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $71.57.

UL Solutions Trading Down 1.7%

Shares of UL Solutions stock opened at $75.14 on Friday. The company's fifty day simple moving average is $68.32 and its 200-day simple moving average is $67.33. The company has a market cap of $15.09 billion, a price-to-earnings ratio of 46.39 and a beta of 1.04. 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 $48.54 and a 1 year high of $79.05.

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

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 29th were paid a $0.13 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 0.7%. UL Solutions's dividend payout ratio (DPR) is presently 32.10%.

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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