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

Key Points

• Ranger Investment Management acquired 418,200 UL Solutions shares worth approximately $42.6 million, making the company its fourth-largest holding and representing about 0.21% of UL Solutions.
• UL Solutions exceeded quarterly expectations, reporting $0.59 in EPS and $816 million in revenue, with revenue rising 5.2% year over year. Analysts maintain a “Moderate Buy” consensus and a $96.78 average price target.
• Shares opened at $74.95, well below the consensus target and recent moving averages, while insiders sold 47,605 shares worth $4.6 million over the past three months. The company also declared a quarterly dividend of $0.145 per share, yielding about 0.8% annually.

Ranger Investment Management L.P. acquired a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 418,200 shares of the company's stock, valued at approximately $42,598,000. UL Solutions accounts for about 2.7% of Ranger Investment Management L.P.'s holdings, making the stock its 4th largest holding. Ranger Investment Management L.P. owned about 0.21% of UL Solutions at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ULS. Parallel Advisors LLC lifted its stake in UL Solutions by 349.3% in the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company's stock valued at $26,000 after acquiring an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock worth $46,000 after acquiring an additional 614 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of UL Solutions by 42.4% in the second quarter. GAMMA Investing LLC now owns 823 shares of the company's stock valued at $84,000 after purchasing an additional 245 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of UL Solutions in the first quarter worth $49,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in UL Solutions by 112.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company's stock worth $71,000 after purchasing an additional 479 shares during the last quarter.

Insider Activity

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of UL Solutions stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $92.08, for a total transaction of $1,151,000.00. Following the completion of the transaction, the chief executive officer directly owned 151,724 shares in the company, valued at approximately $13,970,745.92. The trade was a 7.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gitte Schjotz sold 9,865 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $96.98, for a total value of $956,707.70. Following the transaction, the insider directly owned 59,341 shares in the company, valued at $5,754,890.18. The trade was a 14.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,605 shares of company stock valued at $4,616,835 over the last three months. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ULS shares. Telsey Advisory Group set a $100.00 price objective on UL Solutions in a report on Wednesday, May 6th. The Goldman Sachs Group set a $86.00 price target on UL Solutions in a research note on Wednesday, August 5th. Robert W. Baird set a $95.00 price target on UL Solutions in a research report on Wednesday, August 5th. Citigroup dropped their price objective on UL Solutions from $106.40 to $82.80 and set a "neutral" rating on the stock in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised UL Solutions from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.78.

UL Solutions Stock Down 0.1%

UL Solutions stock opened at $74.95 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The company's 50-day moving average is $87.31 and its 200-day moving average is $87.71. The firm has a market capitalization of $15.13 billion, a PE ratio of 30.34, a P/E/G ratio of 3.12 and a beta of 0.71. UL Solutions Inc. has a fifty-two week low of $61.64 and a fifty-two week high of $107.54.

UL Solutions (NYSE:ULS - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The business had revenue of $816.00 million during the quarter, compared to the consensus estimate of $813.62 million. During the same period last year, the business posted $0.52 EPS. UL Solutions's revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that UL Solutions Inc. will post 2.08 earnings per share for the current year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 31st will be given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. UL Solutions's dividend payout ratio (DPR) is presently 23.48%.

About UL Solutions

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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