Sheets Smith Wealth Management Makes New Investment in UL Solutions Inc. $ULS

Key Points

• Sheets Smith Wealth Management has made a new investment in UL Solutions Inc. by acquiring 4,510 shares valued at approximately $329,000 during the second quarter.
• UL Solutions recently reported a quarterly earnings per share of $0.52, exceeding analysts' expectations, with revenue of $776 million, reflecting a 6.3% increase from the previous year.
• The company announced a quarterly dividend of $0.13, representing an annualized yield of 0.8%, and has a dividend payout ratio of 32.10%.

Sheets Smith Wealth Management bought a new position in UL Solutions Inc. (NYSE:ULS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,510 shares of the company's stock, valued at approximately $329,000.

Other large investors have also recently bought and sold shares of the company. Sowell Financial Services LLC bought a new position in UL Solutions in the first quarter worth about $227,000. Fifth Third Bancorp raised its holdings in shares of UL Solutions by 75.3% during the first quarter. Fifth Third Bancorp now owns 9,795 shares of the company's stock valued at $552,000 after buying an additional 4,206 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of UL Solutions during the first quarter worth approximately $417,000. Vest Financial LLC acquired a new position in shares of UL Solutions during the first quarter worth approximately $881,000. Finally, Cresset Asset Management LLC acquired a new position in shares of UL Solutions during the first quarter worth approximately $226,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group reduced their price objective on UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted 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. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, UL Solutions presently has a consensus rating of "Hold" and an average target price of $70.86.

UL Solutions Stock Performance

ULS opened at $68.55 on Friday. The company has a market capitalization of $13.77 billion, a price-to-earnings ratio of 42.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.32 and a quick ratio of 1.32. UL Solutions Inc. has a 1-year low of $48.54 and a 1-year high of $74.15. The business has a 50 day moving average price of $67.25 and a two-hundred day moving average price of $65.17.

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

UL Solutions Dividend Announcement

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

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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