Raymond James Financial Inc. Sells 9,033 Shares of UL Solutions Inc. $ULS

Key Points

• Raymond James Financial Inc. reduced its stake in UL Solutions Inc. by 2.5%, selling 9,033 shares and owning about 0.18% of the company, valued at approximately $20.2 million.
• UL Solutions reported $0.52 earnings per share, surpassing estimates, and achieved a revenue of $776 million, reflecting a year-over-year increase of 6.3%.
• The company announced a quarterly dividend of $0.13, with a payout ratio of 32.10%, and is set to be paid to investors of record on August 29th.

Raymond James Financial Inc. lowered its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 358,741 shares of the company's stock after selling 9,033 shares during the period. Raymond James Financial Inc. owned about 0.18% of UL Solutions worth $20,233,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ULS. NewEdge Advisors LLC boosted its position in UL Solutions by 30.4% during the 4th quarter. NewEdge Advisors LLC now owns 9,039 shares of the company's stock valued at $451,000 after buying an additional 2,109 shares during the period. First Trust Advisors LP raised its holdings in UL Solutions by 3.4% in the 4th quarter. First Trust Advisors LP now owns 66,521 shares of the company's stock worth $3,318,000 after purchasing an additional 2,210 shares in the last quarter. Stifel Financial Corp raised its holdings in UL Solutions by 40.6% in the 4th quarter. Stifel Financial Corp now owns 42,881 shares of the company's stock worth $2,139,000 after purchasing an additional 12,381 shares in the last quarter. Hsbc Holdings PLC bought a new position in UL Solutions in the 4th quarter worth $521,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in UL Solutions by 42.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,782 shares of the company's stock worth $688,000 after purchasing an additional 4,100 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on ULS shares. Raymond James Financial upped their price objective on shares of UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of UL Solutions from $64.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Wells Fargo & Company upped their price objective on shares of UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $71.00 price objective (up from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. Finally, The Goldman Sachs Group upped their price objective on shares of UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, UL Solutions currently has an average rating of "Hold" and an average price target of $70.86.

UL Solutions Stock Performance

Shares of ULS stock traded down $0.26 during trading hours on Monday, reaching $63.08. The company had a trading volume of 509,636 shares, compared to its average volume of 1,116,108. The business has a fifty day moving average price of $69.03 and a 200-day moving average price of $63.70. UL Solutions Inc. has a one year low of $46.79 and a one year high of $74.15. The firm has a market cap of $12.67 billion, a PE ratio of 38.94 and a beta of 0.98. 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 announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The firm had revenue of $776.00 million during the quarter, compared to analyst estimates of $771.55 million. During the same period in the previous year, the business posted $0.44 earnings per share. The business's revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

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