83,800 Shares in UL Solutions Inc. (NYSE:ULS) Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new stake in UL Solutions Inc. (NYSE:ULS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 83,800 shares of the company’s stock, valued at approximately $3,536,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of UL Solutions in the second quarter valued at approximately $96,262,000. American Century Companies Inc. purchased a new stake in shares of UL Solutions during the second quarter worth $68,832,000. Conestoga Capital Advisors LLC acquired a new stake in shares of UL Solutions in the second quarter valued at $29,229,000. DekaBank Deutsche Girozentrale purchased a new position in UL Solutions in the second quarter valued at $25,667,000. Finally, Federated Hermes Inc. acquired a new position in UL Solutions during the 2nd quarter worth $13,636,000.

Insider Activity at UL Solutions

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

UL Solutions Stock Up 0.1 %

Shares of NYSE:ULS opened at $49.50 on Monday. UL Solutions Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $56.28. The company has a 50-day moving average price of $50.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00.

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

UL Solutions Announces Dividend

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

Analyst Ratings Changes

ULS has been the topic of a number of analyst reports. Baird R W lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. The Goldman Sachs Group raised their target price on shares of UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on shares of UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird lifted their price objective on shares of UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, UL Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price 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.