Driehaus Capital Management LLC Takes Position in UL Solutions Inc. $ULS

Key Points

• Driehaus Capital Management LLC has acquired a new stake in UL Solutions Inc., purchasing 197,127 shares valued at approximately $11.1 million, which represents about 0.10% of the company.
• UL Solutions recently reported a Q2 earnings per share (EPS) of $0.52, exceeding analysts' expectations of $0.47, with revenues totaling $776 million, marking a 6.3% year-over-year increase.
• The company declared a quarterly dividend of $0.13, reflecting an annualized yield of 0.8%, with payment scheduled for September 8th.

Driehaus Capital Management LLC acquired a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 197,127 shares of the company's stock, valued at approximately $11,118,000. Driehaus Capital Management LLC owned 0.10% of UL Solutions at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new stake in shares of UL Solutions during the first quarter worth about $31,000. Quarry LP bought a new stake in UL Solutions in the fourth quarter valued at about $32,000. Rhumbline Advisers bought a new stake in UL Solutions in the first quarter valued at about $49,000. Argent Trust Co bought a new stake in UL Solutions in the first quarter valued at about $208,000. Finally, Phillips Wealth Planners LLC acquired a new position in UL Solutions in the first quarter valued at approximately $226,000.

Wall Street Analyst Weigh In

ULS has been the subject of a number of research reports. Robert W. Baird lifted their target price on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" 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 for the company in a research report on Wednesday, August 6th. Raymond James Financial boosted their price objective on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group boosted their target price on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, UL Solutions has an average rating of "Hold" and a consensus price target of $70.86.

UL Solutions Stock Down 2.0%

UL Solutions stock traded down $1.31 during mid-day trading on Wednesday, hitting $62.71. 1,044,783 shares of the company's stock were exchanged, compared to its average volume of 813,551. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The stock has a market cap of $12.60 billion, a P/E ratio of 38.71 and a beta of 0.97. UL Solutions Inc. has a 1-year low of $46.79 and a 1-year high of $74.15. The stock has a 50 day moving average of $68.70 and a two-hundred day moving average of $63.69.

UL Solutions (NYSE:ULS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. The firm 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%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. As a group, analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

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

UL Solutions Company 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.