Venturi Wealth Management LLC Takes Position in UL Solutions Inc. $ULS

Key Points

• Venturi Wealth Management LLC acquired a new stake in UL Solutions Inc., purchasing 3,610 shares valued at approximately $263,000 in the second quarter.
• UL Solutions reported a quarterly earnings per share of $0.52, exceeding analysts' expectations, and had a revenue of $776 million for the quarter, up 6.3% from the previous year.
• The company announced a quarterly dividend of $0.13, which represents an annualized yield of 0.7%, with a dividend payout ratio of 32.10%.

Venturi Wealth Management LLC bought a new stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,610 shares of the company's stock, valued at approximately $263,000.

A number of other institutional investors have also recently modified their holdings of ULS. Bessemer Group Inc. bought a new stake in shares of UL Solutions during the 1st quarter valued at $80,618,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of UL Solutions during the 1st quarter valued at $57,999,000. T. Rowe Price Investment Management Inc. lifted its position in shares of UL Solutions by 7.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,530,367 shares of the company's stock valued at $255,513,000 after acquiring an additional 305,658 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of UL Solutions by 104.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company's stock valued at $25,953,000 after acquiring an additional 234,913 shares during the period. Finally, Bowen Hanes & Co. Inc. bought a new stake in shares of UL Solutions during the 1st quarter valued at $11,844,000.

UL Solutions Price Performance

Shares of ULS opened at $72.05 on Friday. UL Solutions Inc. has a 12-month low of $48.54 and a 12-month high of $75.56. The business has a 50-day simple moving average of $67.46 and a two-hundred day simple moving average of $66.65. 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 stock has a market cap of $14.47 billion, a PE ratio of 44.48 and a beta of 1.04.

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

UL Solutions Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on ULS. UBS Group cut their target price on UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price target on 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 reissued a "buy (b)" rating on shares of UL Solutions in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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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