Port Capital LLC Invests $25.68 Million in UL Solutions Inc. (NYSE:ULS)

Port Capital LLC purchased a new stake in UL Solutions Inc. (NYSE:ULS) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 520,785 shares of the company’s stock, valued at approximately $25,675,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ULS. Renaissance Technologies LLC purchased a new position in UL Solutions during the 2nd quarter valued at about $3,536,000. Victory Capital Management Inc. grew its stake in UL Solutions by 377.1% during the third quarter. Victory Capital Management Inc. now owns 23,540 shares of the company’s stock valued at $1,161,000 after acquiring an additional 18,606 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in UL Solutions during the 3rd quarter worth approximately $9,615,000. Federated Hermes Inc. purchased a new stake in UL Solutions in the 2nd quarter worth approximately $13,636,000. Finally, Discovery Capital Management LLC CT purchased a new stake in UL Solutions in the 2nd quarter worth approximately $1,055,000.

UL Solutions Trading Up 0.3 %

ULS opened at $52.99 on Wednesday. UL Solutions Inc. has a 12 month low of $33.15 and a 12 month high of $59.23. The business’s 50-day moving average price is $51.89 and its 200-day moving average price is $48.04. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85.

UL Solutions (NYSE:ULS) last announced 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. The firm had revenue of $731.00 million during the quarter, compared to the consensus estimate of $709.41 million. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. The business’s revenue was up 8.1% compared to the same quarter last year. On average, analysts expect that UL Solutions Inc. will post 1.53 EPS for the current year.

UL Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Friday, November 29th will be given 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 yield of 0.94%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

UL Solutions Company 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.