UL Solutions Inc. $ULS Shares Bought by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its position in UL Solutions Inc. by 191.7% to a total of $345,000 during the 1st quarter of the year.
• UL Solutions reported earnings of $0.52 per share, surpassing analyst expectations, along with a revenue of $776 million for the last quarter.
• The company declared a quarterly dividend of $0.13 per share, set to be paid on September 8th, which corresponds to a 0.8% dividend yield.

Northwest & Ethical Investments L.P. raised its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 191.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,125 shares of the company's stock after purchasing an additional 4,025 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in UL Solutions were worth $345,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in UL Solutions in the fourth quarter valued at about $32,000. Rhumbline Advisers purchased a new stake in shares of UL Solutions during the first quarter worth about $49,000. Argent Trust Co purchased a new stake in shares of UL Solutions during the first quarter worth about $208,000. Phillips Wealth Planners LLC purchased a new stake in shares of UL Solutions during the first quarter worth about $226,000. Finally, Cresset Asset Management LLC purchased a new stake in shares of UL Solutions during the first quarter worth about $226,000.

UL Solutions Stock Up 0.3%

UL Solutions stock traded up $0.2210 during midday trading on Friday, hitting $65.4210. The stock had a trading volume of 948,005 shares, compared to its average volume of 1,096,694. 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 business has a fifty day moving average price of $69.97 and a 200 day moving average price of $63.26. UL Solutions Inc. has a 12 month low of $46.79 and a 12 month high of $74.15. The stock has a market cap of $13.14 billion, a P/E ratio of 40.38 and a beta of 1.00.

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

UL Solutions Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ULS. Raymond James Financial lifted their target price on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. UBS Group dropped their target price on UL Solutions from $72.00 to $70.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Citigroup reaffirmed a "neutral" rating and set a $71.00 target price (up from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Robert W. Baird boosted their price objective on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their price objective on UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price 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.