Conestoga Capital Advisors LLC Raises Holdings in UL Solutions Inc. $ULS

Key Points

• Conestoga Capital Advisors LLC increased its stake in UL Solutions Inc. by 64.6%, totaling approximately 1,169,274 shares valued at $85.19 million by the end of the second quarter.
• UL Solutions reported a quarterly earnings of $0.52 per share, exceeding analysts' expectations of $0.47 and a revenue of $776 million, up 6.3% from the previous year.
• The company recently declared a quarterly dividend of $0.13 per share, signifying an annualized dividend of $0.52 with a dividend yield of 0.7%.

Conestoga Capital Advisors LLC increased its stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 64.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,169,274 shares of the company's stock after buying an additional 458,972 shares during the quarter. Conestoga Capital Advisors LLC owned about 0.58% of UL Solutions worth $85,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. William Blair Investment Management LLC purchased a new position in shares of UL Solutions during the second quarter worth about $32,124,000. Cannon Global Investment Management LLC purchased a new position in shares of UL Solutions during the second quarter worth about $437,000. Twin Tree Management LP purchased a new position in shares of UL Solutions during the second quarter worth about $296,000. AEGON ASSET MANAGEMENT UK Plc grew its holdings in shares of UL Solutions by 55.7% during the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 427,171 shares of the company's stock worth $31,090,000 after buying an additional 152,788 shares during the last quarter. Finally, Jag Capital Management LLC purchased a new position in shares of UL Solutions during the second quarter worth about $249,000.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $75.14 on Monday. 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 company has a market cap of $15.09 billion, a P/E ratio of 46.39 and a beta of 1.04. UL Solutions Inc. has a 52 week low of $48.54 and a 52 week high of $79.05. The company has a 50-day moving average price of $68.32 and a 200 day moving average price of $67.47.

UL Solutions (NYSE:ULS - Get Free Report) last announced 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. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $771.55 million. During the same quarter last year, the firm earned $0.44 earnings per share. The firm's revenue was up 6.3% compared to the same quarter last year. Research analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Dividend Announcement

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

Wall Street Analysts Forecast Growth

ULS has been the topic of a number of research reports. UBS Group raised their price target on UL Solutions from $70.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of UL Solutions from $64.00 to $70.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of UL Solutions in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $71.57.

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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