UL Solutions Inc. $ULS Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its shares in UL Solutions Inc. by 26.8% during the first quarter, bringing its total holdings to approximately $13.14 million.
• Wells Fargo raised its price target for UL Solutions from $65.00 to $77.00, signaling confidence in the stock, while other firms have varied ratings and targets.
• UL Solutions recently announced a quarterly dividend of $0.13 per share, which will be paid to investors on record as of August 29th, representing an annual yield of 0.8%.

Northern Trust Corp increased its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 232,946 shares of the company's stock after buying an additional 49,222 shares during the quarter. Northern Trust Corp owned about 0.12% of UL Solutions worth $13,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sowell Financial Services LLC acquired a new position in UL Solutions in the 1st quarter worth approximately $227,000. Fifth Third Bancorp increased its holdings in UL Solutions by 75.3% in the 1st quarter. Fifth Third Bancorp now owns 9,795 shares of the company's stock worth $552,000 after buying an additional 4,206 shares during the period. SG Americas Securities LLC acquired a new position in UL Solutions in the 1st quarter worth approximately $417,000. Vest Financial LLC purchased a new stake in UL Solutions in the 1st quarter worth approximately $881,000. Finally, Cresset Asset Management LLC purchased a new stake in UL Solutions in the 1st quarter worth approximately $226,000.

Wall Street Analysts Forecast Growth

ULS has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. UBS Group lowered 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. The Goldman Sachs Group upped their price objective on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Robert W. Baird upped their price objective on UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Citigroup restated a "neutral" rating and issued a $71.00 price objective (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, UL Solutions currently has a consensus rating of "Hold" and a consensus target price of $70.86.

UL Solutions Stock Performance

Shares of ULS opened at $62.71 on Thursday. The company's 50 day moving average price is $68.70 and its 200 day moving average price is $63.69. UL Solutions Inc. has a 52 week low of $46.79 and a 52 week high of $74.15. The company has a market capitalization of $12.60 billion, a PE ratio of 38.71 and a beta of 0.97. 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 data 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 net margin of 11.08% and a return on equity of 37.33%. The firm had revenue of $776.00 million for 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 firm's revenue was up 6.3% on a year-over-year basis. Research analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

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

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