Ranger Investment Management L.P. Grows Position in UL Solutions Inc. $ULS

Ranger Investment Management L.P. increased its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 8.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 446,930 shares of the company's stock after purchasing an additional 35,096 shares during the period. UL Solutions comprises about 2.8% of Ranger Investment Management L.P.'s investment portfolio, making the stock its 4th largest position. Ranger Investment Management L.P. owned about 0.22% of UL Solutions worth $38,306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ULS. Parallel Advisors LLC boosted its stake in UL Solutions by 349.3% during the first quarter. Parallel Advisors LLC now owns 301 shares of the company's stock worth $26,000 after buying an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock valued at $46,000 after buying an additional 614 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of UL Solutions in the 1st quarter valued at $49,000. CIBC Private Wealth Group LLC lifted its holdings in shares of UL Solutions by 112.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company's stock worth $71,000 after acquiring an additional 479 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of UL Solutions by 60.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company's stock worth $109,000 after acquiring an additional 519 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ULS shares. BNP Paribas Exane initiated coverage on shares of UL Solutions in a research note on Monday, April 20th. They issued a "neutral" rating and a $95.00 target price on the stock. Weiss Ratings upgraded shares of UL Solutions from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, May 8th. Raymond James Financial reaffirmed an "outperform" rating and set a $115.00 price objective on shares of UL Solutions in a report on Wednesday, May 6th. The Goldman Sachs Group reiterated a "neutral" rating on shares of UL Solutions in a research note on Wednesday, May 6th. Finally, Citigroup increased their target price on UL Solutions from $87.80 to $106.40 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.54.

UL Solutions Trading Up 1.7%

Shares of UL Solutions stock opened at $91.61 on Wednesday. UL Solutions Inc. has a 12-month low of $61.64 and a 12-month high of $107.54. The stock has a market capitalization of $18.46 billion, a P/E ratio of 53.57, a price-to-earnings-growth ratio of 3.45 and a beta of 0.63. The company has a 50-day simple moving average of $94.23 and a 200 day simple moving average of $87.06. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.08. The firm had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. Research analysts expect that UL Solutions Inc. will post 2.13 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions's payout ratio is presently 33.92%.

Insiders Place Their Bets

In related news, insider Gitte Schjotz sold 12,015 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $99.71, for a total transaction of $1,198,015.65. Following the sale, the insider directly owned 69,206 shares in the company, valued at $6,900,530.26. This represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer F. Scanlon sold 12,500 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $99.22, for a total value of $1,240,250.00. Following the sale, the chief executive officer directly owned 164,224 shares of the company's stock, valued at $16,294,305.28. This represents a 7.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 65,705 shares of company stock worth $6,460,300 over the last ninety days. 1.20% of the stock is owned by insiders.

UL Solutions Company Profile

UL Solutions NYSE: ULS is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters' Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company's core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.

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