UL Solutions Inc. $ULS Shares Purchased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its UL Solutions stake by 24.1% in the third quarter, buying 220,700 shares to hold about 1.14 million shares, valued at $74.5 million.
• UL Solutions reported quarterly EPS of $0.62, matching analyst estimates, while revenue of $823 million topped expectations and grew 5.1% year over year.
• Analysts give the stock a consensus “Moderate Buy” rating and an average price target of $95.84; seven rate it Buy and five rate it Hold.

Pictet Asset Management Holding SA grew its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 24.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,136,171 shares of the company's stock after purchasing an additional 220,700 shares during the quarter. Pictet Asset Management Holding SA owned 0.56% of UL Solutions worth $74,536,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in UL Solutions by 2.0% during the first quarter. Bessemer Group Inc. now owns 2,265,772 shares of the company's stock valued at $194,199,000 after buying an additional 44,103 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in UL Solutions by 12.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,744,523 shares of the company's stock valued at $147,534,000 after acquiring an additional 193,610 shares during the last quarter. International Assets Investment Management LLC lifted its stake in UL Solutions by 40,069.7% in the third quarter. International Assets Investment Management LLC now owns 1,610,000 shares of the company's stock valued at $105,648,000 after acquiring an additional 1,605,992 shares during the last quarter. Reynders McVeigh Capital Management LLC boosted its position in shares of UL Solutions by 3.8% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 608,136 shares of the company's stock valued at $61,945,000 after acquiring an additional 22,028 shares in the last quarter. Finally, Ranger Investment Management L.P. acquired a new stake in shares of UL Solutions during the 2nd quarter valued at about $42,598,000.

UL Solutions Price Performance

Shares of UL Solutions stock opened at $81.19 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.42 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $16.39 billion, a price-to-earnings ratio of 32.34, a P/E/G ratio of 3.31 and a beta of 0.62. UL Solutions Inc. has a 1-year low of $63.17 and a 1-year high of $107.54. The firm's 50-day moving average price is $71.15 and its two-hundred day moving average price is $82.57.

UL Solutions (NYSE:ULS - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.62. The company had revenue of $823.00 million during the quarter, compared to analysts' expectations of $815.72 million. UL Solutions had a net margin of 16.07% and a return on equity of 26.65%. UL Solutions's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 earnings per share. On average, equities analysts predict that UL Solutions Inc. will post 2.09 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 31st were issued a dividend of $0.1450 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, August 31st. UL Solutions's dividend payout ratio (DPR) is currently 23.11%.

Insiders Place Their Bets

In other UL Solutions news, CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $75.03, for a total value of $937,875.00. Following the completion of the transaction, the chief executive officer owned 114,224 shares in the company, valued at approximately $8,570,226.72. The trade was a 9.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 37,500 shares of company stock worth $2,734,625. Company insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ULS shares. The Goldman Sachs Group set a $86.00 price target on shares of UL Solutions in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their price objective on UL Solutions from $104.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, November 4th. Wall Street Zen lowered UL Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Citigroup cut their target price on UL Solutions from $82.80 to $81.40 and set a "neutral" rating for the company in a research report on Wednesday, November 4th. Finally, UBS Group upped their price target on UL Solutions from $96.00 to $97.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $95.84.

About UL Solutions

UL Solutions Inc provides testing, inspection, certification, software and advisory services focused on product safety, performance and sustainability. Its work helps companies assess products and processes against technical standards and regulatory requirements.

The company serves manufacturers and other organizations across industries and geographies. Its services include product testing and certification, cybersecurity and supply-chain assessments, and software and consulting tools for managing compliance and sustainability efforts.

UL Solutions traces its history to Underwriters' Electrical Bureau, founded in 1894 by engineer William Henry Merrill.

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