TD Asset Management Inc Sells 74,400 Shares of UL Solutions Inc. $ULS

Key Points

• TD Asset Management Inc has reduced its stake in UL Solutions Inc by 28.4%, selling 74,400 shares, leaving them with a total of 187,460 shares valued at approximately $13.66 million.
• UL Solutions reported a quarterly earnings per share of $0.52, surpassing the consensus estimate of $0.47, with a revenue increase of 6.3% year-over-year.
• The company declared a quarterly dividend of $0.13 per share, resulting in an annualized dividend yield of 0.7%, paid to shareholders of record on August 29.

TD Asset Management Inc trimmed its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 28.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,460 shares of the company's stock after selling 74,400 shares during the quarter. TD Asset Management Inc owned 0.09% of UL Solutions worth $13,658,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Elequin Capital LP bought a new stake in shares of UL Solutions during the first quarter worth $31,000. Rhumbline Advisers bought a new stake in shares of UL Solutions during the first quarter worth $49,000. LRI Investments LLC bought a new stake in shares of UL Solutions during the second quarter worth $128,000. Argent Trust Co bought a new stake in shares of UL Solutions during the first quarter worth $208,000. Finally, Phillips Wealth Planners LLC bought a new stake in shares of UL Solutions during the first quarter worth $226,000.

UL Solutions Price Performance

ULS stock opened at $75.14 on Friday. The firm has a market cap of $15.09 billion, a price-to-earnings ratio of 46.39 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55. UL Solutions Inc. has a 12-month low of $48.54 and a 12-month high of $79.05. The company's fifty day simple moving average is $68.32 and its 200 day simple moving average is $67.40.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $771.55 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The business's revenue was up 6.3% compared to the same quarter last year. On average, analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 29th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions's payout ratio is 32.10%.

Analyst Ratings Changes

A number of brokerages have recently commented on ULS. UBS Group lifted their price target on shares of UL Solutions from $70.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target 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. Finally, Weiss Ratings restated a "buy (b)" rating on shares of UL Solutions in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, UL Solutions has a consensus rating of "Moderate Buy" and an average target price of $71.57.

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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