LGT Fund Management Co Ltd. Takes Position in UL Solutions Inc. $ULS

Key Points

• LGT Fund Management Co Ltd. has acquired 63,500 shares of UL Solutions Inc., valued at approximately $4.63 million, in the second quarter, marking a significant new investment in the company.
• Analysts have a consensus rating of "Moderate Buy" for UL Solutions, with an average target price of $70.86, indicating a generally positive outlook among research analysts.
• UL Solutions has recently reported a quarterly earnings per share (EPS) of $0.52, surpassing expectations and showing a 6.3% year-over-year increase in revenue.

LGT Fund Management Co Ltd. acquired a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 63,500 shares of the company's stock, valued at approximately $4,627,000.

Other large investors have also recently modified their holdings of the company. Elequin Capital LP bought a new position in shares of UL Solutions during the 1st quarter worth approximately $31,000. Rhumbline Advisers bought a new position in shares of UL Solutions during the 1st quarter worth approximately $49,000. Argent Trust Co bought a new position in shares of UL Solutions during the 1st quarter worth approximately $208,000. Phillips Wealth Planners LLC bought a new position in shares of UL Solutions during the 1st quarter worth approximately $226,000. Finally, Cresset Asset Management LLC bought a new position in shares of UL Solutions during the 1st quarter worth approximately $226,000.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of UL Solutions in a research note on Saturday, September 27th. UBS Group cut their price target on shares of 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. upped their price target on shares of UL Solutions from $64.00 to $70.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $70.86.

UL Solutions Trading Up 1.0%

Shares of UL Solutions stock opened at $72.29 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. UL Solutions Inc. has a 12-month low of $48.54 and a 12-month high of $74.15. The firm has a market capitalization of $14.52 billion, a price-to-earnings ratio of 44.62 and a beta of 1.04. The firm's 50 day simple moving average is $67.32 and its two-hundred day simple moving average is $65.97.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $776.00 million for the quarter, compared to the consensus estimate of $771.55 million. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The business's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. Analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 29th were paid a $0.13 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions's dividend payout ratio is presently 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.

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