SG Americas Securities LLC Buys New Position in UL Solutions Inc. (NYSE:ULS)

SG Americas Securities LLC bought a new stake in UL Solutions Inc. (NYSE:ULS) in the third quarter, Holdings Channel reports. The fund bought 6,004 shares of the company’s stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA bought a new position in UL Solutions in the 2nd quarter valued at about $96,262,000. American Century Companies Inc. acquired a new stake in UL Solutions in the 2nd quarter valued at about $68,832,000. AltraVue Capital LLC acquired a new stake in UL Solutions in the 2nd quarter valued at about $35,050,000. Conestoga Capital Advisors LLC acquired a new stake in UL Solutions in the 2nd quarter valued at about $29,229,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in UL Solutions in the 2nd quarter valued at about $25,667,000.

UL Solutions Trading Down 1.2 %

Shares of UL Solutions stock opened at $53.15 on Friday. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $56.28. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $51.32.

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. On average, equities research analysts expect that UL Solutions Inc. will post 1.46 EPS for the current year.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Friday, August 30th.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ULS shares. Wells Fargo & Company upped their price target on shares of UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Citigroup assumed coverage on shares of UL Solutions in a research report on Monday, October 7th. They issued a “buy” rating and a $60.00 price target for the company. The Goldman Sachs Group increased their price target on shares of UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a research 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, Robert W. Baird increased their price target on UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, UL Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

Insider Activity

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UL Solutions Company 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.