Voleon Capital Management LP Sells 17,949 Shares of UL Solutions Inc. $ULS

Key Points

• Voleon Capital Management LP reduced its stake in UL Solutions Inc. by 62.5% during the first quarter, now holding 10,784 shares valued at $608,000.
• Several institutional investors have made new positions in UL Solutions, with significant investments from firms like Elequin Capital LP and Phillips Wealth Planners LLC.
• Analysts have mixed views on UL Solutions, with target price adjustments ranging from $64.00 to $72.00, and an average consensus rating of "Hold."

Voleon Capital Management LP lessened its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 62.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,784 shares of the company's stock after selling 17,949 shares during the period. Voleon Capital Management LP's holdings in UL Solutions were worth $608,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Elequin Capital LP bought a new position in shares of UL Solutions in the 1st quarter worth approximately $31,000. Connecticut Wealth Management LLC lifted its stake in shares of UL Solutions by 5.7% in the 1st quarter. Connecticut Wealth Management LLC now owns 10,785 shares of the company's stock worth $608,000 after purchasing an additional 585 shares during the period. Algert Global LLC lifted its stake in shares of UL Solutions by 0.9% in the 1st quarter. Algert Global LLC now owns 83,530 shares of the company's stock worth $4,711,000 after purchasing an additional 782 shares during the period. Rhumbline Advisers bought a new position in shares of UL Solutions in the 1st quarter worth approximately $49,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of UL Solutions by 5.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,338 shares of the company's stock worth $1,034,000 after purchasing an additional 900 shares during the period.

Wall Street Analysts Forecast Growth

ULS has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of 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 target price on shares of UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Three investment 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, UL Solutions presently has an average rating of "Hold" and a consensus target price of $70.86.

UL Solutions Trading Up 1.1%

NYSE ULS traded up $0.74 on Monday, hitting $67.49. 74,675 shares of the stock were exchanged, compared to its average volume of 810,868. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a fifty day moving average price of $67.87 and a two-hundred day moving average price of $64.36. The firm has a market capitalization of $13.56 billion, a P/E ratio of 41.66 and a beta of 0.98. UL Solutions Inc. has a 52-week low of $48.11 and a 52-week high of $74.15.

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

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 29th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, August 29th. UL Solutions's dividend payout ratio (DPR) is 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.