Conestoga Capital Advisors LLC Has $40.06 Million Stock Position in UL Solutions Inc. (NYSE:ULS)

Conestoga Capital Advisors LLC boosted its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 710,302 shares of the company's stock after purchasing an additional 4,367 shares during the quarter. Conestoga Capital Advisors LLC owned 0.35% of UL Solutions worth $40,061,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of UL Solutions during the fourth quarter valued at about $32,000. PNC Financial Services Group Inc. increased its stake in UL Solutions by 653.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after acquiring an additional 582 shares during the period. Rhumbline Advisers acquired a new position in UL Solutions in the 1st quarter valued at approximately $49,000. Northwest & Ethical Investments L.P. lifted its position in shares of UL Solutions by 23.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock worth $105,000 after acquiring an additional 400 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of UL Solutions during the 4th quarter worth approximately $201,000.

UL Solutions Price Performance

NYSE:ULS opened at $71.54 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The firm has a market cap of $14.34 billion, a PE ratio of 44.16 and a beta of 1.21. UL Solutions Inc. has a 12 month low of $39.86 and a 12 month high of $72.81. The company's 50-day moving average price is $65.22 and its two-hundred day moving average price is $57.14.

UL Solutions (NYSE:ULS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The company had revenue of $705.00 million during the quarter, compared to analysts' expectations of $704.19 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, May 30th. UL Solutions's dividend payout ratio is currently 31.14%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ULS. 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 research note on Wednesday, May 7th. UBS Group raised their price objective on shares of UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Raymond James lifted their target price on shares of UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group increased their price target on shares of UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Robert W. Baird lifted their price objective on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $69.43.

Insider Transactions at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,961 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $70.00, for a total value of $137,270.00. Following the completion of the transaction, the executive vice president now directly owns 9,285 shares of the company's stock, valued at approximately $649,950. The trade was a 17.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gitte Schjotz sold 7,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total transaction of $472,080.00. Following the transaction, the insider now owns 46,889 shares in the company, valued at $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

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.

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