AGF Management Ltd. Buys 9,559 Shares of UL Solutions Inc. $ULS

by · The Cerbat Gem

AGF Management Ltd. grew its position in UL Solutions Inc. (NYSE:ULS – Free Report) by 22.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 51,837 shares of the company’s stock after buying an additional 9,559 shares during the period. AGF Management Ltd.’s holdings in UL Solutions were worth $3,673,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its holdings in shares of UL Solutions by 48.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after buying an additional 171 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after acquiring an additional 614 shares during the period. Rhumbline Advisers acquired a new position in UL Solutions in the first quarter valued at about $49,000. PNC Financial Services Group Inc. raised its position in shares of UL Solutions by 28.2% during the second quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock worth $53,000 after purchasing an additional 161 shares during the period. Finally, HM Payson & Co. bought a new position in shares of UL Solutions during the 3rd quarter valued at about $70,000.

UL Solutions Trading Down 1.5%

Shares of NYSE:ULS opened at $70.63 on Wednesday. The company’s 50-day moving average price is $78.61 and its two-hundred day moving average price is $74.97. UL Solutions Inc. has a one year low of $49.34 and a one year high of $91.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $14.19 billion, a PE ratio of 42.29 and a beta of 1.11.

UL Solutions (NYSE:ULS – Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. The business had revenue of $783.00 million for the quarter, compared to the consensus estimate of $769.01 million. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.UL Solutions’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. On average, equities analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Friday, November 28th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, November 28th. UL Solutions’s dividend payout ratio is presently 31.14%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ULS. UBS Group lowered their target price on UL Solutions from $96.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Wells Fargo & Company increased their price objective on shares of UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Zacks Research cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Robert W. Baird set a $97.00 target price on shares of UL Solutions and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Finally, The Goldman Sachs Group lifted their price target on UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, UL Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.57.

View Our Latest Report on UL Solutions

About UL Solutions

(Free Report)

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.

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