Quantbot Technologies LP Acquires New Stake in UL Solutions Inc. (NYSE:ULS)

Quantbot Technologies LP bought a new position in UL Solutions Inc. (NYSE:ULS) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 35,162 shares of the company’s stock, valued at approximately $1,733,000.

A number of other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA purchased a new position in shares of UL Solutions in the 2nd quarter worth about $96,262,000. American Century Companies Inc. purchased a new position in UL Solutions in the second quarter worth about $68,832,000. AltraVue Capital LLC bought a new position in shares of UL Solutions in the second quarter worth approximately $35,050,000. Conestoga Capital Advisors LLC purchased a new stake in shares of UL Solutions during the second quarter valued at approximately $29,229,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of UL Solutions during the second quarter valued at approximately $25,667,000.

Insider Buying and Selling

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

UL Solutions Stock Up 0.4 %

ULS opened at $53.73 on Friday. UL Solutions Inc. has a 1-year low of $33.15 and a 1-year high of $59.23. The firm’s 50 day simple moving average is $51.75 and its two-hundred day simple moving average is $47.66. 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 released its earnings results 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. 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 for the quarter, compared to the consensus estimate of $709.41 million. UL Solutions’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities research analysts expect that UL Solutions Inc. will post 1.53 EPS for the current year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 29th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, November 29th.

Analyst Upgrades and Downgrades

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

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.