Concentric Capital Strategies LP Makes New Investment in UL Solutions Inc. (NYSE:ULS)

Concentric Capital Strategies LP purchased a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,632 shares of the company’s stock, valued at approximately $1,264,000.

A number of other hedge funds have also modified their holdings of the stock. Stone House Investment Management LLC acquired a new stake in UL Solutions during the third quarter valued at $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of UL Solutions during the 2nd quarter valued at about $29,000. Sunbelt Securities Inc. bought a new stake in shares of UL Solutions in the 2nd quarter valued at approximately $72,000. Daiwa Securities Group Inc. acquired a new position in UL Solutions in the second quarter worth approximately $84,000. Finally, Northwest & Ethical Investments L.P. bought a new position in UL Solutions during the third quarter valued at approximately $84,000.

Analyst Ratings Changes

Several analysts have commented on ULS shares. UBS Group boosted their target price on shares of UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on shares of UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their target price on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Citigroup assumed coverage on UL Solutions in a research report on Monday, October 7th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Robert W. Baird increased their price objective on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Insider Activity

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

UL Solutions Stock Performance

Shares of NYSE:ULS opened at $52.83 on Tuesday. The business has a 50 day moving average price of $51.82 and a 200 day moving average price of $47.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. UL Solutions Inc. has a twelve month low of $33.15 and a twelve month high of $59.23.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.10. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. The company had revenue of $731.00 million during the quarter, compared to analysts’ expectations of $709.41 million. UL Solutions’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts predict that UL Solutions Inc. will post 1.53 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.50 annualized dividend and a dividend yield of 0.95%.

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.