Marshall Wace LLP Buys New Stake in UL Solutions Inc. (NYSE:ULS)

Marshall Wace LLP purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) during the second quarter, Holdings Channel reports. The fund purchased 293,814 shares of the company’s stock, valued at approximately $12,396,000.

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

Insiders Place Their Bets

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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

ULS has been the topic of a number of research reports. Robert W. Baird increased their target price on shares of UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a 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 report on Thursday, August 1st. Baird R W downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Finally, The Goldman Sachs Group increased their price target on UL Solutions from $40.00 to $45.00 and gave the company 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 issued a buy rating to the stock. Based on data from MarketBeat.com, UL Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $43.90.

UL Solutions Stock Performance

ULS stock opened at $49.50 on Friday. The stock’s 50 day simple moving average is $50.20. 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 Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $56.28.

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

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 30th were paid a $0.125 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.50 annualized dividend and a yield of 1.01%.

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.