Discovery Capital Management LLC CT Buys Shares of 25,000 UL Solutions Inc. (NYSE:ULS)

Discovery Capital Management LLC CT purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) during the second quarter, HoldingsChannel reports. The fund purchased 25,000 shares of the company’s stock, valued at approximately $1,055,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new position in UL Solutions in the second quarter valued at about $96,262,000. American Century Companies Inc. bought a new stake in UL Solutions during the 2nd quarter worth approximately $68,832,000. AltraVue Capital LLC acquired a new stake in UL Solutions during the 2nd quarter worth approximately $35,050,000. Conestoga Capital Advisors LLC bought a new position in UL Solutions in the second quarter valued at approximately $29,229,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of UL Solutions during the second quarter worth $25,667,000.

UL Solutions Stock Down 2.6 %

Shares of UL Solutions stock opened at $48.50 on Monday. UL Solutions Inc. has a 1 year low of $33.15 and a 1 year high of $56.28. The firm’s fifty day simple moving average is $49.70. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick ratio of 1.29.

UL Solutions (NYSE:ULS) last posted its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The company had revenue of $730.00 million for the quarter, compared to analyst estimates of $718.73 million. The business’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts predict that UL Solutions Inc. will post 1.46 EPS for the current year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.03%.

Wall Street Analyst Weigh In

Several research firms recently commented on ULS. Baird R W cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird upped their price objective on UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their target price on UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group upped 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. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.90.

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.