Harvey Partners LLC Increases Stock Holdings in UL Solutions Inc. (NYSE:ULS)

Harvey Partners LLC grew its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 31.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,500 shares of the company’s stock after buying an additional 62,500 shares during the quarter. UL Solutions accounts for approximately 1.5% of Harvey Partners LLC’s holdings, making the stock its 28th biggest holding. Harvey Partners LLC’s holdings in UL Solutions were worth $12,892,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ULS. FMR LLC boosted its position in UL Solutions by 6.9% during the 3rd quarter. FMR LLC now owns 3,565,238 shares of the company’s stock worth $175,766,000 after acquiring an additional 230,886 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in UL Solutions during the 2nd quarter worth approximately $96,262,000. American Century Companies Inc. bought a new stake in shares of UL Solutions during the second quarter worth approximately $68,832,000. AltraVue Capital LLC acquired a new position in shares of UL Solutions in the 2nd quarter valued at approximately $35,050,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in UL Solutions by 19.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company’s stock worth $36,805,000 after acquiring an additional 122,975 shares in the last quarter.

Insider Activity

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

Analyst Upgrades and Downgrades

ULS has been the topic of several research reports. The Goldman Sachs Group boosted their price target on UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. UBS Group lifted their target price on shares of UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Citigroup initiated coverage on UL Solutions in a research note on Monday, October 7th. They set a “buy” rating and a $60.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird raised their price objective on UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, UL Solutions currently has an average rating of “Moderate Buy” and an average target price of $49.00.

UL Solutions Stock Down 1.7 %

Shares of ULS opened at $52.83 on Tuesday. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week high of $59.23. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The business’s fifty day moving average price is $51.82 and its two-hundred day moving average price is $47.92.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) 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 the consensus estimate of $709.41 million. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts forecast that UL Solutions Inc. will post 1.53 EPS for the current year.

UL Solutions Announces Dividend

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

UL Solutions 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.