Ranger Investment Management L.P. Lowers Holdings in UL Solutions Inc. $ULS

Ranger Investment Management L.P. reduced its stake in shares of UL Solutions Inc. (NYSE:ULS) by 2.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 413,075 shares of the company’s stock after selling 11,820 shares during the period. UL Solutions accounts for 2.0% of Ranger Investment Management L.P.’s portfolio, making the stock its 14th largest position. Ranger Investment Management L.P.’s holdings in UL Solutions were worth $29,270,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in shares of UL Solutions by 13.8% in the 3rd quarter. Bessemer Group Inc. now owns 2,151,390 shares of the company’s stock valued at $152,448,000 after purchasing an additional 261,603 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in UL Solutions in the third quarter valued at $97,803,000. Norges Bank purchased a new stake in UL Solutions during the second quarter valued at about $89,174,000. Conestoga Capital Advisors LLC increased its stake in UL Solutions by 64.6% during the second quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock worth $85,193,000 after acquiring an additional 458,972 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in UL Solutions by 53.1% during the second quarter. Geode Capital Management LLC now owns 999,507 shares of the company’s stock worth $72,837,000 after acquiring an additional 346,633 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have weighed in on ULS shares. The Goldman Sachs Group lifted their price target on shares of UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Wells Fargo & Company raised their target price on shares of UL Solutions from $77.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Robert W. Baird set a $97.00 price objective on UL Solutions and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $84.00 price objective (up previously from $70.00) on shares of UL Solutions in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.57.

UL Solutions Stock Down 1.8%

Shares of UL Solutions stock opened at $70.56 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33. UL Solutions Inc. has a 1-year low of $49.34 and a 1-year high of $91.95. The business has a 50-day moving average of $77.83 and a 200-day moving average of $74.91. The company has a market capitalization of $14.17 billion, a PE ratio of 42.04 and a beta of 1.11.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The firm had revenue of $783.00 million during the quarter, compared to analyst estimates of $769.01 million. During the same quarter last year, the firm earned $0.49 EPS. UL Solutions’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Friday, November 28th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is presently 31.14%.

About UL Solutions

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.