UL Solutions Inc. $ULS Shares Acquired by Renaissance Capital LLC

Renaissance Capital LLC boosted its stake in UL Solutions Inc. (NYSE:ULS) by 16.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,862 shares of the company’s stock after buying an additional 6,922 shares during the period. UL Solutions accounts for 1.9% of Renaissance Capital LLC’s portfolio, making the stock its 19th biggest holding. Renaissance Capital LLC’s holdings in UL Solutions were worth $3,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ULS. Bessemer Group Inc. boosted its holdings in shares of UL Solutions by 32.2% in the second quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company’s stock valued at $137,689,000 after acquiring an additional 460,394 shares in the last quarter. Norges Bank acquired a new stake in UL Solutions in the second quarter worth approximately $89,174,000. Conestoga Capital Advisors LLC boosted its stake in UL Solutions by 64.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock valued at $85,193,000 after purchasing an additional 458,972 shares in the last quarter. Geode Capital Management LLC increased its position in shares of UL Solutions by 53.1% during the 2nd quarter. Geode Capital Management LLC now owns 999,507 shares of the company’s stock valued at $72,837,000 after purchasing an additional 346,633 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of UL Solutions by 41.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 768,131 shares of the company’s stock worth $55,966,000 after buying an additional 226,999 shares in the last quarter.

UL Solutions Trading Down 0.7%

Shares of NYSE:ULS opened at $80.32 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $16.14 billion, a PE ratio of 48.10 and a beta of 0.92. UL Solutions Inc. has a 1 year low of $48.54 and a 1 year high of $91.95. The firm has a fifty day moving average price of $82.28 and a 200 day moving average price of $74.03.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The company had revenue of $783.00 million during the quarter, compared to analysts’ expectations of $769.01 million. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Analysts expect that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Friday, November 28th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, November 28th. UL Solutions’s dividend payout ratio (DPR) is 31.14%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ULS. Robert W. Baird set a $97.00 target price on UL Solutions and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Weiss Ratings reissued a “buy (b)” rating on shares of UL Solutions in a report on Monday. The Goldman Sachs Group lifted their price objective on shares of UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. UBS Group boosted their target price on shares of UL Solutions from $75.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Finally, Baird R W raised UL Solutions from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.14.

About UL Solutions

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.