Kayne Anderson Rudnick Investment Management LLC Buys Shares of 1,028,343 UL Solutions Inc. $ULS

Key Points

• Kayne Anderson Rudnick Investment Management LLC has acquired over 1 million shares of UL Solutions Inc. for approximately $58 million, representing about 0.51% ownership of the company.
• Analysts have set a consensus target price of $70.86 for UL Solutions, with several firms adjusting their ratings and price targets on the stock; some indicating potential for further appreciation.
• UL Solutions has recently declared a quarterly dividend of $0.13 per share, reflecting a 0.8% dividend yield and a payout ratio of 32.10%.

Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,028,343 shares of the company's stock, valued at approximately $57,999,000. Kayne Anderson Rudnick Investment Management LLC owned about 0.51% of UL Solutions as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Elequin Capital LP acquired a new stake in UL Solutions during the first quarter worth about $31,000. Quarry LP purchased a new stake in UL Solutions during the fourth quarter worth about $32,000. Rhumbline Advisers acquired a new stake in shares of UL Solutions during the first quarter worth about $49,000. Argent Trust Co purchased a new position in shares of UL Solutions in the first quarter valued at approximately $208,000. Finally, Phillips Wealth Planners LLC acquired a new position in shares of UL Solutions in the first quarter valued at approximately $226,000.

UL Solutions Stock Up 0.0%

ULS stock traded up $0.03 during midday trading on Thursday, reaching $63.23. 433,357 shares of the company were exchanged, compared to its average volume of 813,575. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 39.03 and a beta of 1.00. 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 Inc. has a 1-year low of $46.79 and a 1-year high of $74.15. The stock's 50-day simple moving average is $69.35 and its 200 day simple moving average is $63.50.

UL Solutions (NYSE:ULS - Get Free Report) last released 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. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $771.55 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. UL Solutions's revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.8%. UL Solutions's dividend payout ratio (DPR) is 32.10%.

Analysts Set New Price Targets

A number of research firms have issued reports on ULS. Wells Fargo & Company increased their target price on shares of UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. The Goldman Sachs Group increased their price objective on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. 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 report on Wednesday, May 7th. Citigroup restated a "neutral" rating and set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Finally, Raymond James Financial increased their price target on UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus 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.