Fifth Third Bancorp Decreases Stock Position in UL Solutions Inc. $ULS

Key Points

• Fifth Third Bancorp reduced its stake in UL Solutions Inc. by 41.3% during the second quarter, owning 5,746 shares after selling 4,049 shares, with a total holding valued at $419,000.
• In the second quarter, UL Solutions declared a quarterly dividend of $0.13 per share, with a yield of 0.7% and a payout ratio of 32.10%.
• Despite the sell-off, UL Solutions reported earnings of $0.52 per share for the latest quarter, surpassing expectations and showing a 6.3% increase in revenue compared to the previous year.

Fifth Third Bancorp lessened its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 41.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,746 shares of the company's stock after selling 4,049 shares during the quarter. Fifth Third Bancorp's holdings in UL Solutions were worth $419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP acquired a new stake in shares of UL Solutions in the first quarter valued at approximately $31,000. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the first quarter valued at approximately $49,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of UL Solutions in the second quarter valued at approximately $235,000. Argent Trust Co acquired a new stake in shares of UL Solutions in the first quarter valued at approximately $208,000. Finally, Phillips Wealth Planners LLC acquired a new stake in shares of UL Solutions in the first quarter valued at approximately $226,000.

UL Solutions Price Performance

ULS stock opened at $70.18 on Tuesday. 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 company has a market capitalization of $14.10 billion, a PE ratio of 43.32 and a beta of 0.98. UL Solutions Inc. has a 12-month low of $48.54 and a 12-month high of $74.15. The business's fifty day moving average price is $67.24 and its 200 day moving average price is $65.64.

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. On average, sell-side analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders 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 annualized dividend and a yield of 0.7%. UL Solutions's dividend payout ratio is 32.10%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on UL Solutions from $64.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. UBS Group cut their target price on UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $70.86.

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.

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