Granite Investment Partners LLC Lowers Holdings in UL Solutions Inc. $ULS

Granite Investment Partners LLC lowered its holdings in UL Solutions Inc. (NYSE:ULS) by 50.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,455 shares of the company’s stock after selling 21,855 shares during the period. Granite Investment Partners LLC’s holdings in UL Solutions were worth $1,520,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ULS. Royal Bank of Canada boosted its position in UL Solutions by 119.5% in the 1st quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock valued at $8,090,000 after buying an additional 78,081 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of UL Solutions by 104.3% in the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of UL Solutions by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock valued at $6,981,000 after acquiring an additional 13,205 shares in the last quarter. Rhumbline Advisers purchased a new position in UL Solutions in the first quarter valued at $49,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in UL Solutions during the 2nd quarter worth $1,933,000.

UL Solutions Stock Performance

Shares of UL Solutions stock opened at $78.17 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. UL Solutions Inc. has a 52 week low of $49.34 and a 52 week high of $91.95. The firm’s 50 day moving average is $76.08 and its two-hundred day moving average is $75.26. The firm has a market capitalization of $15.70 billion, a P/E ratio of 49.16, a P/E/G ratio of 4.45 and a beta of 1.12.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.07. The business had revenue of $789.00 million during the quarter, compared to the consensus estimate of $782.37 million. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. Research analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd will be paid a $0.145 dividend. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, March 2nd. UL Solutions’s payout ratio is currently 32.70%.

Analyst Upgrades and Downgrades

ULS has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on UL Solutions from $84.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday. Weiss Ratings cut shares of UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Bank of America boosted their price target on shares of UL Solutions to $86.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. UBS Group increased their price objective on shares of UL Solutions from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Robert W. Baird decreased their price objective on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $85.50.

UL Solutions Company Profile

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.