DekaBank Deutsche Girozentrale Invests $52.40 Million in UL Solutions Inc. $ULS

Key Points

• DekaBank Deutsche Girozentrale has made a new investment of approximately $52.40 million in UL Solutions Inc., acquiring 756,505 shares.
• Analyst ratings for UL Solutions have been positive, with JPMorgan increasing its price target from $64.00 to $70.00 and UBS raising it from $70.00 to $75.00, suggesting a strong outlook for the stock.
• UL Solutions recently declared a quarterly dividend of $0.13 per share, representing an annualized yield of 0.7%, with a payout ratio of 32.10%.

DekaBank Deutsche Girozentrale bought a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 756,505 shares of the company's stock, valued at approximately $52,396,000. DekaBank Deutsche Girozentrale owned about 0.38% of UL Solutions at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ULS. Elequin Capital LP acquired a new position in UL Solutions during the 1st quarter worth approximately $31,000. Rhumbline Advisers purchased a new stake in shares of UL Solutions during the 1st quarter worth $49,000. LRI Investments LLC acquired a new position in shares of UL Solutions during the 2nd quarter worth $128,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of UL Solutions during the 2nd quarter worth $235,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of UL Solutions in the 2nd quarter valued at about $247,000.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of UL Solutions from $64.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Weiss Ratings reissued a "buy (b)" rating on shares of UL Solutions in a research note on Wednesday, October 8th. Finally, UBS Group upped 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. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $71.57.

UL Solutions Stock Down 0.5%

ULS stock opened at $76.26 on Wednesday. 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's 50 day simple moving average is $68.70 and its 200-day simple moving average is $67.69. UL Solutions Inc. has a 12 month low of $48.54 and a 12 month high of $79.05. The firm has a market capitalization of $15.32 billion, a PE ratio of 47.07 and a beta of 1.04.

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

UL Solutions Announces Dividend

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

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