Renaissance Capital LLC Trims Holdings in UL Solutions Inc. $ULS

Key Points

• Renaissance Capital LLC reduced its holdings in UL Solutions Inc. by 40.1% during the second quarter, selling 28,028 shares and now owning 41,940 shares valued at approximately $3.06 million.
• The company recently announced a quarterly dividend of $0.13 per share, with an annualized dividend yield of 0.7%.
• UL Solutions reported a 6.3% increase in revenue year-over-year for the last quarter, reaching $776 million, along with an earnings per share (EPS) of $0.52, surpassing analyst expectations.

Renaissance Capital LLC trimmed its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 40.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,940 shares of the company's stock after selling 28,028 shares during the quarter. UL Solutions comprises 2.1% of Renaissance Capital LLC's holdings, making the stock its 18th largest position. Renaissance Capital LLC's holdings in UL Solutions were worth $3,056,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ULS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in UL Solutions by 161.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,566 shares of the company's stock worth $5,515,000 after acquiring an additional 68,259 shares during the period. California State Teachers Retirement System boosted its stake in shares of UL Solutions by 3.8% in the fourth quarter. California State Teachers Retirement System now owns 53,334 shares of the company's stock worth $2,660,000 after acquiring an additional 1,939 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the first quarter worth approximately $49,000. AEGON ASSET MANAGEMENT UK Plc boosted its stake in shares of UL Solutions by 16.5% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 274,383 shares of the company's stock worth $15,475,000 after acquiring an additional 38,882 shares during the last quarter. Finally, Vest Financial LLC acquired a new stake in shares of UL Solutions in the first quarter worth approximately $881,000.

UL Solutions Price Performance

NYSE:ULS opened at $70.18 on Tuesday. UL Solutions Inc. has a 52 week low of $48.54 and a 52 week high of $74.15. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $14.10 billion, a P/E ratio of 43.32 and a beta of 0.98. The stock's fifty day moving average is $67.24 and its two-hundred day moving average is $65.64.

UL Solutions (NYSE:ULS - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $771.55 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company's revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts expect that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The company 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 of this dividend was Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions's payout ratio is presently 32.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ULS shares. JPMorgan Chase & Co. lifted their price objective on UL Solutions from $64.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. UBS Group reduced their price objective 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. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $70.86.

UL Solutions 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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