UL Solutions Inc. $ULS Shares Purchased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has increased its holdings in UL Solutions by 7.2%, now owning 4,530,367 shares worth approximately $255.5 million.
• UL Solutions has reported $0.52 earnings per share, exceeding analysts' expectations of $0.47, with a revenue of $776 million for the quarter.
• The company has declared a quarterly dividend of $0.13 per share, with a dividend yield of 0.8% and a payout ratio of 32.10%.

T. Rowe Price Investment Management Inc. increased its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,530,367 shares of the company's stock after purchasing an additional 305,658 shares during the period. T. Rowe Price Investment Management Inc. owned 2.26% of UL Solutions worth $255,513,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Elequin Capital LP acquired a new stake in UL Solutions during the 1st quarter worth $31,000. Quarry LP acquired a new stake in UL Solutions during the 4th quarter worth $32,000. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the 1st quarter worth $49,000. Argent Trust Co acquired a new stake in shares of UL Solutions in the 1st quarter worth $208,000. Finally, Phillips Wealth Planners LLC acquired a new stake in shares of UL Solutions in the 1st quarter worth $226,000.

UL Solutions Stock Performance

Shares of ULS opened at $66.7510 on Thursday. The company has a 50-day simple moving average of $70.17 and a 200-day simple moving average of $63.10. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $13.41 billion, a PE ratio of 41.20 and a beta of 1.00. UL Solutions Inc. has a 52-week low of $46.79 and a 52-week high of $74.15.

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

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 29th. UL Solutions's dividend payout ratio (DPR) is currently 32.10%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ULS. The Goldman Sachs Group raised their target price on shares of UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Raymond James Financial raised their target price on shares of UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their target price on shares of UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of UL Solutions from $64.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $70.86.

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.

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