CenterBook Partners LP purchased a new position in shares of UL Solutions Inc. (NYSE:ULS – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,913 shares of the company’s stock, valued at approximately $782,000.
Other large investors have also recently bought and sold shares of the company. Covestor Ltd acquired a new stake in shares of UL Solutions in the third quarter valued at approximately $34,000. Ascent Group LLC boosted its holdings in UL Solutions by 7.2% during the third quarter. Ascent Group LLC now owns 10,638 shares of the company’s stock worth $698,000 after purchasing an additional 713 shares during the last quarter. Vise Technologies Inc. boosted its holdings in UL Solutions by 130.0% during the third quarter. Vise Technologies Inc. now owns 5,257 shares of the company’s stock worth $345,000 after purchasing an additional 2,971 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in UL Solutions by 40,069.7% during the third quarter. International Assets Investment Management LLC now owns 1,610,000 shares of the company’s stock worth $105,648,000 after purchasing an additional 1,605,992 shares during the last quarter. Finally, Motley Fool Asset Management LLC bought a new position in UL Solutions in the third quarter valued at $417,000.
Insider Activity at UL Solutions
In other news, CEO Jennifer Scanlon sold 12,500 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $75.03, for a total transaction of $937,875.00. Following the transaction, the chief executive officer directly owned 114,224 shares in the company, valued at $8,570,226.72. The trade was a 9.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 37,500 shares of company stock valued at $2,734,625. Company insiders own 1.20% of the company’s stock.
UL Solutions Trading Up 0.4%
NYSE ULS opened at $81.49 on Wednesday. The company has a market cap of $16.45 billion, a PE ratio of 41.64, a PEG ratio of 3.33 and a beta of 0.62. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.44. UL Solutions Inc. has a 12 month low of $63.17 and a 12 month high of $107.54. The stock has a 50 day moving average of $71.29 and a 200-day moving average of $82.62.
UL Solutions (NYSE:ULS – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $0.62 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.62. UL Solutions had a net margin of 16.07% and a return on equity of 26.65%. The business had revenue of $823.00 million for the quarter, compared to the consensus estimate of $815.72 million. During the same period in the previous year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that UL Solutions Inc. will post 2.09 EPS for the current fiscal year.
UL Solutions Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were given a $0.1450 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, August 31st. UL Solutions’s dividend payout ratio (DPR) is 23.11%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on ULS. The Goldman Sachs Group set a $86.00 price target on shares of UL Solutions in a research note on Wednesday, August 5th. UBS Group increased their price objective on shares of UL Solutions from $96.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. William Blair restated an “outperform” rating on shares of UL Solutions in a report on Monday, September 21st. Wall Street Zen downgraded UL Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Wells Fargo & Company lifted their target price on UL Solutions from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.84.
View Our Latest Analysis on ULS
UL Solutions Company Profile
UL Solutions Inc. provides testing, inspection, certification, software and advisory services focused on product safety, performance and sustainability. Its work helps companies assess products and processes against technical standards and regulatory requirements. The company serves manufacturers and other organizations across industries and geographies. Its services include product testing and certification, cybersecurity and supply-chain assessments, and software and consulting tools for managing compliance and sustainability efforts.
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