Caitong International Asset Management Co. Ltd Has $217,000 Stock Position in UL Solutions Inc. $ULS

Caitong International Asset Management Co. Ltd lifted its stake in UL Solutions Inc. (NYSE:ULS) by 1,501.6% during the 2nd quarter, Holdings Channel reports. The firm owned 2,979 shares of the company’s stock after acquiring an additional 2,793 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in UL Solutions were worth $217,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its stake in UL Solutions by 7.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,530,367 shares of the company’s stock valued at $255,513,000 after buying an additional 305,658 shares during the period. JPMorgan Chase & Co. increased its stake in shares of UL Solutions by 1.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company’s stock valued at $252,333,000 after acquiring an additional 82,261 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of UL Solutions in the 1st quarter valued at about $80,618,000. Conestoga Capital Advisors LLC raised its position in shares of UL Solutions by 64.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock valued at $85,193,000 after acquiring an additional 458,972 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in UL Solutions during the 1st quarter worth approximately $57,999,000.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of UL Solutions from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. UBS Group raised their price objective on UL Solutions from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of UL Solutions in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.57.

UL Solutions Price Performance

Shares of NYSE ULS opened at $79.25 on Friday. The company has a fifty day moving average price of $69.08 and a 200 day moving average price of $67.93. UL Solutions Inc. has a 1-year low of $48.54 and a 1-year high of $79.37. The firm has a market cap of $15.92 billion, a PE ratio of 48.92 and a beta of 1.04. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55.

UL Solutions (NYSE:ULS) last announced its earnings results on Tuesday, August 5th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%.The business had revenue of $776.00 million for the quarter, compared to analyst estimates of $771.55 million. During the same quarter last year, the firm earned $0.44 EPS. UL Solutions’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 29th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions’s payout ratio is currently 32.10%.

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.