177,751 Shares in UL Solutions Inc. $ULS Acquired by Fenimore Asset Management Inc

by · The Markets Daily

Fenimore Asset Management Inc purchased a new position in UL Solutions Inc. (NYSE:ULS – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 177,751 shares of the company’s stock, valued at approximately $11,664,000. Fenimore Asset Management Inc owned 0.09% of UL Solutions as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ULS. Parallel Advisors LLC raised its holdings in UL Solutions by 349.3% in the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after purchasing an additional 234 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of UL Solutions during the 2nd quarter valued at about $34,000. NewEdge Advisors LLC boosted its stake in shares of UL Solutions by 50.0% during the 2nd quarter. NewEdge Advisors LLC now owns 450 shares of the company’s stock valued at $46,000 after purchasing an additional 150 shares in the last quarter. GAMMA Investing LLC increased its position in shares of UL Solutions by 42.4% during the second quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock valued at $84,000 after buying an additional 245 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in shares of UL Solutions by 33.6% during the first quarter. Public Employees Retirement System of Ohio now owns 1,945 shares of the company’s stock valued at $167,000 after buying an additional 489 shares during the period.

Insider Buying and Selling at UL Solutions

In other news, CEO Jennifer Scanlon sold 12,500 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $73.66, for a total value of $920,750.00. Following the completion of the transaction, the chief executive officer owned 139,224 shares in the company, valued at $10,255,239.84. The trade was a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by corporate insiders.

UL Solutions Stock Up 5.3%

UL Solutions stock traded up $3.58 during mid-day trading on Thursday, reaching $70.71. The stock had a trading volume of 2,140,246 shares, compared to its average volume of 945,696. UL Solutions Inc. has a one year low of $63.17 and a one year high of $107.54. The company has a 50-day moving average price of $73.00 and a two-hundred day moving average price of $85.65. The company has a market capitalization of $14.28 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 2.84 and a beta of 0.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42.

UL Solutions (NYSE:ULS – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The business had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $813.62 million. During the same period in the previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts expect that UL Solutions Inc. will post 2.08 EPS for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 31st were paid a dividend of $0.1450 per share. This represents a $0.58 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, August 31st. UL Solutions’s dividend payout ratio (DPR) is currently 23.48%.

Wall Street Analyst Weigh In

Several brokerages have commented on ULS. Zacks Research lowered shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen lowered UL Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. William Blair reiterated an “outperform” rating on shares of UL Solutions in a report on Monday, September 21st. UBS Group reduced their target price on shares of UL Solutions from $110.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company lowered their price target on shares of UL Solutions from $120.00 to $104.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.78.

Check Out Our Latest Stock Analysis on UL Solutions

UL Solutions Company Profile

(Free Report)

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that helps organizations assess and manage safety, security, sustainability and performance risks. The company provides testing, inspection and certification services, along with advisory and software solutions, for products, facilities, systems and supply chains.

Its services support a broad range of industries, including consumer products, industrial equipment, energy, mobility, information technology and the built environment.

See Also

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