Driehaus Capital Management LLC Buys New Holdings 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 bought a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 197,127 shares of the company's stock, valued at approximately $11,118,000. Driehaus Capital Management LLC owned 0.10% of UL Solutions as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in ULS. T. Rowe Price Investment Management Inc. boosted its stake in shares of UL Solutions by 7.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,530,367 shares of the company's stock valued at $255,513,000 after purchasing an additional 305,658 shares during the last quarter. JPMorgan Chase & Co. grew its stake in UL Solutions by 1.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company's stock worth $252,333,000 after buying an additional 82,261 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of UL Solutions by 3.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,389,077 shares of the company's stock valued at $119,164,000 after purchasing an additional 81,426 shares in the last quarter. Bessemer Group Inc. purchased a new stake in UL Solutions during the 1st quarter valued at $80,618,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of UL Solutions in the 1st quarter worth about $57,999,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised 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. UBS Group decreased their price objective on shares of UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Citigroup reissued 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 analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $70.86.

UL Solutions Trading Down 0.3%

NYSE ULS traded down $0.21 during trading hours on Friday, reaching $63.18. The company had a trading volume of 351,412 shares, compared to its average volume of 811,195. The stock has a 50-day moving average of $68.52 and a 200 day moving average of $63.74. UL Solutions Inc. has a 1-year low of $46.79 and a 1-year high of $74.15. 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 capitalization of $12.69 billion, a P/E ratio of 39.07 and a beta of 0.97.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 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 quarter in the previous year, the business earned $0.44 EPS. As a group, research analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

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 dividend of $0.13 per share. 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 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.