UL Solutions Inc. $ULS Shares Bought by Capital Research Global Investors

Capital Research Global Investors grew its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 20.6% during the third quarter, Holdings Channel.com reports. The firm owned 3,942,905 shares of the company’s stock after buying an additional 674,088 shares during the quarter. Capital Research Global Investors’ holdings in UL Solutions were worth $279,394,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of ULS. Capital International Investors increased its stake in UL Solutions by 10.8% during the 3rd quarter. Capital International Investors now owns 7,548,311 shares of the company’s stock valued at $534,738,000 after buying an additional 738,720 shares during the period. Bessemer Group Inc. lifted its stake in shares of UL Solutions by 13.8% in the 3rd quarter. Bessemer Group Inc. now owns 2,151,390 shares of the company’s stock worth $152,448,000 after acquiring an additional 261,603 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of UL Solutions in the third quarter valued at approximately $97,803,000. Norges Bank bought a new position in shares of UL Solutions in the second quarter valued at approximately $89,174,000. Finally, First Trust Advisors LP increased its stake in shares of UL Solutions by 57.3% during the third quarter. First Trust Advisors LP now owns 1,137,364 shares of the company’s stock valued at $80,594,000 after acquiring an additional 414,363 shares during the period.

UL Solutions Stock Down 1.0%

ULS opened at $81.69 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The firm’s fifty day moving average price is $76.84 and its two-hundred day moving average price is $76.45. UL Solutions Inc. has a fifty-two week low of $49.34 and a fifty-two week high of $91.95. The company has a market capitalization of $16.42 billion, a P/E ratio of 51.38, a P/E/G ratio of 3.39 and a beta of 0.87.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The firm had revenue of $789.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. On average, analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.145 per share. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date is Monday, March 2nd. This represents a $0.58 annualized dividend and a yield of 0.7%. UL Solutions’s dividend payout ratio is 36.48%.

Analysts Set New Price Targets

A number of research firms have weighed in on ULS. Weiss Ratings downgraded UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a research note on Friday, February 20th. JPMorgan Chase & Co. upped their price target on shares of UL Solutions from $84.00 to $88.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Bank of America boosted their price objective on UL Solutions to $86.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, UBS Group increased their price objective on UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $87.60.

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.