Kodai Capital Management LP Sells 40,691 Shares of UL Solutions Inc. $ULS

Key Points

• Kodai Capital Management LP significantly reduced its position in UL Solutions Inc. by 60.5%, now holding 26,617 shares valued at approximately $1.5 million.
• Despite the reduction by Kodai, other institutional investors like T. Rowe Price and JPMorgan Chase have increased their holdings, with T. Rowe Price boosting its position by 7.2%.
• UL Solutions recently announced a quarterly dividend of $0.13 per share, with a dividend yield of 0.8%, set to be paid on September 8th.

Kodai Capital Management LP decreased its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 60.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,617 shares of the company's stock after selling 40,691 shares during the quarter. Kodai Capital Management LP's holdings in UL Solutions were worth $1,501,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Bessemer Group Inc. acquired a new position in shares of UL Solutions in the first quarter valued at approximately $80,618,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of UL Solutions in the first quarter valued at approximately $57,999,000. Wellington Management Group LLP acquired a new position in shares of UL Solutions in the fourth quarter valued at approximately $32,091,000. T. Rowe Price Investment Management Inc. increased its stake in shares of UL Solutions by 7.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,530,367 shares of the company's stock valued at $255,513,000 after buying an additional 305,658 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in shares of UL Solutions in the fourth quarter valued at approximately $14,382,000.

UL Solutions Trading Up 0.6%

Shares of UL Solutions stock traded up $0.41 on Thursday, reaching $63.12. 222,436 shares of the company's stock were exchanged, compared to its average volume of 809,935. The company has a market capitalization of $12.68 billion, a P/E ratio of 38.96 and a beta of 0.97. UL Solutions Inc. has a 52 week low of $46.79 and a 52 week high of $74.15. The firm's 50-day moving average is $68.70 and its two-hundred day moving average is $63.69. 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 posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. The firm had revenue of $776.00 million for the quarter, compared to analysts' expectations of $771.55 million. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%.The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. Sell-side analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

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

Analysts Set New Price Targets

ULS has been the subject of several recent research reports. Robert W. Baird upped their price objective on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and issued a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. JPMorgan Chase & Co. upped their price objective on UL Solutions from $64.00 to $70.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. UBS Group lowered their price objective 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. Finally, The Goldman Sachs Group upped their target price on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a 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. Based on data from MarketBeat, UL Solutions has an average rating of "Hold" and a consensus price target of $70.86.

About UL Solutions

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.