Bessemer Group Inc. Has $137.69 Million Stake in UL Solutions Inc. $ULS

Bessemer Group Inc. lifted its stake in shares of UL Solutions Inc. (NYSE:ULS) by 32.2% during the second quarter, Holdings Channel.com reports. The firm owned 1,889,787 shares of the company’s stock after buying an additional 460,394 shares during the period. Bessemer Group Inc.’s holdings in UL Solutions were worth $137,689,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ULS. Lisanti Capital Growth LLC lifted its position in shares of UL Solutions by 26.2% during the first quarter. Lisanti Capital Growth LLC now owns 118,155 shares of the company’s stock worth $6,664,000 after purchasing an additional 24,535 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of UL Solutions during the first quarter worth approximately $555,000. Bank of New York Mellon Corp lifted its position in shares of UL Solutions by 2.9% during the first quarter. Bank of New York Mellon Corp now owns 146,832 shares of the company’s stock worth $8,281,000 after purchasing an additional 4,200 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of UL Solutions by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 174,224 shares of the company’s stock worth $9,826,000 after purchasing an additional 5,239 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in UL Solutions by 169.6% in the first quarter. Victory Capital Management Inc. now owns 84,558 shares of the company’s stock valued at $4,769,000 after buying an additional 53,195 shares during the period.

UL Solutions Stock Up 1.1%

Shares of NYSE:ULS opened at $80.02 on Monday. UL Solutions Inc. has a 52 week low of $48.54 and a 52 week high of $80.69. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $16.08 billion, a PE ratio of 49.40 and a beta of 1.04. The company has a 50 day moving average price of $69.33 and a two-hundred day moving average price of $68.31.

UL Solutions (NYSE:ULS) last issued its earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $771.55 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 29th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions’s dividend payout ratio is presently 32.10%.

Wall Street Analysts Forecast Growth

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

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.