Invesco Ltd. Makes New Investment in UL Solutions Inc. $ULS

Key Points

• Invesco Ltd. acquired a new stake in UL Solutions Inc. during the 1st quarter, purchasing 12,501 shares valued at approximately $705,000.
• UL Solutions recently reported earnings of $0.52 per share for the last quarter, surpassing analyst estimates and showing a 6.3% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.13 per share, with a dividend yield of 0.8%, to be distributed on September 8th.

Invesco Ltd. bought a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,501 shares of the company's stock, valued at approximately $705,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ULS. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the first quarter valued at about $49,000. Argent Trust Co acquired a new stake in shares of UL Solutions in the first quarter worth approximately $208,000. Phillips Wealth Planners LLC acquired a new stake in shares of UL Solutions in the first quarter worth approximately $226,000. Sowell Financial Services LLC acquired a new stake in shares of UL Solutions in the first quarter worth approximately $227,000. Finally, WoodTrust Financial Corp boosted its stake in shares of UL Solutions by 29.7% in the first quarter. WoodTrust Financial Corp now owns 6,000 shares of the company's stock worth $338,000 after acquiring an additional 1,375 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup reaffirmed a "neutral" rating and issued a $71.00 price target (up from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. UBS Group lowered 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. Finally, 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. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $70.86.

UL Solutions Trading Up 0.7%

Shares of UL Solutions stock traded up $0.46 during trading hours on Friday, hitting $63.85. The company's stock had a trading volume of 638,806 shares, compared to its average volume of 888,465. UL Solutions Inc. has a twelve month low of $46.79 and a twelve month high of $74.15. The firm has a fifty day moving average of $68.36 and a 200-day moving average of $63.85. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 39.41 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.32.

UL Solutions (NYSE:ULS - Get Free Report) last announced 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 return on equity of 37.33% and a net margin of 11.08%.The business had revenue of $776.00 million for the quarter, compared to analyst estimates of $771.55 million. During the same quarter in the prior year, the company posted $0.44 EPS. The company's quarterly revenue was up 6.3% on a year-over-year basis. Research analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current 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 paid 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 is 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.