Russell Investments Group Ltd. Has $2.92 Million Holdings in UL Solutions Inc. $ULS

Key Points

• Russell Investments Group Ltd. increased its stake in UL Solutions Inc. by 27.3%, acquiring an additional 11,127 shares, making its total holdings worth approximately $2.9 million.
• Several institutional investors have recently modified their positions in UL Solutions, with Bessemer Group acquiring a new stake valued at around $80.6 million during the first quarter.
• UL Solutions reported earnings of $0.52 EPS for the most recent quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.13 per share to be paid on September 8th.

Russell Investments Group Ltd. increased its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 27.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 51,821 shares of the company's stock after purchasing an additional 11,127 shares during the period. Russell Investments Group Ltd.'s holdings in UL Solutions were worth $2,923,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP bought a new position in UL Solutions during the fourth quarter worth about $32,000. Rhumbline Advisers bought a new stake in shares of UL Solutions during the first quarter worth approximately $49,000. Argent Trust Co bought a new stake in shares of UL Solutions during the first quarter worth approximately $208,000. Phillips Wealth Planners LLC bought a new stake in shares of UL Solutions during the first quarter worth approximately $226,000. Finally, Sowell Financial Services LLC bought a new stake in shares of UL Solutions during the first quarter worth approximately $227,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ULS shares. Raymond James Financial boosted their price objective on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. The Goldman Sachs Group boosted their price objective on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. 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 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 for the company in a report on Wednesday, August 6th. Finally, Robert W. Baird boosted their price target on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $70.86.

UL Solutions Price Performance

ULS traded up $0.03 during trading on Thursday, hitting $63.23. 433,357 shares of the stock traded hands, compared to its average volume of 813,575. UL Solutions Inc. has a twelve month low of $46.79 and a twelve month high of $74.15. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 39.03 and a beta of 1.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50 day moving average price of $69.50 and a 200 day moving average price of $63.44.

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 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 business 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 business earned $0.44 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 29th will be given 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 payout ratio is currently 32.10%.

About UL Solutions

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.