830,766 Shares in UL Solutions Inc. (NYSE:ULS) Purchased by AltraVue Capital LLC

AltraVue Capital LLC bought a new position in shares of UL Solutions Inc. (NYSE:ULS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 830,766 shares of the company’s stock, valued at approximately $35,050,000. UL Solutions makes up approximately 3.5% of AltraVue Capital LLC’s portfolio, making the stock its 13th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Daiwa Securities Group Inc. bought a new stake in UL Solutions during the second quarter worth about $84,000. TFC Financial Management Inc. bought a new stake in UL Solutions during the second quarter worth about $88,000. Bellecapital International Ltd. acquired a new position in UL Solutions during the second quarter worth approximately $208,000. Victory Capital Management Inc. acquired a new position in UL Solutions during the second quarter worth approximately $208,000. Finally, Levin Capital Strategies L.P. acquired a new position in UL Solutions during the second quarter worth approximately $295,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Baird R W downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. The Goldman Sachs Group boosted their price target on UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price target on UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird boosted their price target on UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.90.

UL Solutions Stock Up 1.3 %

UL Solutions stock opened at $49.38 on Thursday. UL Solutions Inc. has a 12 month low of $33.15 and a 12 month high of $56.28. The company has a 50 day moving average price of $49.50. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29.

UL Solutions (NYSE:ULS) last posted its earnings results on Wednesday, July 31st. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.38 by $0.06. The firm had revenue of $730.00 million during the quarter, compared to analyst estimates of $718.73 million. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts predict that UL Solutions Inc. will post 1.46 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, August 30th.

About UL Solutions

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.