Cresset Asset Management LLC Takes Position in UL Solutions Inc. $ULS

Key Points

• Cresset Asset Management LLC has acquired a new position in UL Solutions Inc., purchasing 4,015 shares valued at approximately $226,000.
• UL Solutions reported a quarterly earnings per share of $0.52, surpassing analyst expectations of $0.47, with revenue up 6.3% year-over-year.
• The company declared a quarterly dividend of $0.13 per share, signaling a dividend yield of 0.8% and a payout ratio of 32.10%.

Cresset Asset Management LLC bought a new stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,015 shares of the company's stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ULS. Quarry LP bought a new position in UL Solutions during the fourth quarter valued at approximately $32,000. Rhumbline Advisers bought a new position in UL Solutions during the first quarter valued at approximately $49,000. Argent Trust Co bought a new position in UL Solutions during the first quarter valued at approximately $208,000. Phillips Wealth Planners LLC bought a new position in UL Solutions during the first quarter valued at approximately $226,000. Finally, Sowell Financial Services LLC bought a new position in UL Solutions during the first quarter valued at approximately $227,000.

Wall Street Analyst Weigh In

ULS has been the subject of a number of research reports. Raymond James Financial increased their price target on UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. UBS Group reduced their price objective on UL Solutions from $72.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company boosted their price objective on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price objective on UL Solutions from $64.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Finally, Robert W. Baird boosted their price objective on UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, UL Solutions currently has an average rating of "Hold" and an average price target of $70.86.

UL Solutions Stock Down 0.4%

Shares of NYSE:ULS traded down $0.26 during trading hours on Friday, hitting $63.08. The company's stock had a trading volume of 509,636 shares, compared to its average volume of 1,145,263. UL Solutions Inc. has a 52 week low of $46.79 and a 52 week high of $74.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 38.94 and a beta of 1.00. The firm's fifty day moving average price is $69.20 and its 200 day moving average price is $63.61.

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

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 29th. UL Solutions's dividend payout ratio (DPR) is currently 32.10%.

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.