Capital International Sarl Acquires 24,654 Shares of UL Solutions Inc. $ULS

Capital International Sarl lifted its stake in UL Solutions Inc. (NYSE:ULS) by 17.7% during the third quarter, HoldingsChannel.com reports. The firm owned 163,604 shares of the company’s stock after purchasing an additional 24,654 shares during the quarter. Capital International Sarl’s holdings in UL Solutions were worth $11,593,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of UL Solutions during the third quarter valued at $97,803,000. Norges Bank purchased a new stake in UL Solutions in the second quarter worth about $89,174,000. Capital International Investors lifted its holdings in UL Solutions by 10.8% during the third quarter. Capital International Investors now owns 7,548,311 shares of the company’s stock valued at $534,738,000 after purchasing an additional 738,720 shares in the last quarter. Electron Capital Partners LLC purchased a new stake in UL Solutions in the 2nd quarter worth $45,558,000. Finally, Envestnet Asset Management Inc. raised its stake in UL Solutions by 405.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock valued at $42,054,000 after purchasing an additional 476,121 shares during the period.

UL Solutions Stock Up 1.6%

Shares of ULS stock opened at $82.33 on Tuesday. The stock has a 50 day moving average of $76.82 and a 200 day moving average of $76.33. UL Solutions Inc. has a twelve month low of $49.34 and a twelve month high of $91.95. The stock has a market cap of $16.55 billion, a P/E ratio of 51.78, a P/E/G ratio of 3.33 and a beta of 0.85. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The company had revenue of $789.00 million during the quarter, compared to analyst estimates of $782.37 million. During the same quarter in the previous year, the firm earned $0.49 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts expect that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Monday, March 2nd will be given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, March 2nd. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is 36.48%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ULS shares. Robert W. Baird reduced their target price on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Wells Fargo & Company increased their target price on shares of UL Solutions from $97.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. UBS Group boosted their price objective on UL Solutions from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Zacks Research lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a research report on Friday, February 20th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, UL Solutions presently has a consensus rating of “Hold” and a consensus price target of $87.60.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.