Qube Research & Technologies Ltd Purchases 226,999 Shares of UL Solutions Inc. $ULS

by · The Cerbat Gem

Qube Research & Technologies Ltd grew its position in UL Solutions Inc. (NYSE:ULS – Free Report) by 41.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 768,131 shares of the company’s stock after buying an additional 226,999 shares during the quarter. Qube Research & Technologies Ltd owned 0.38% of UL Solutions worth $55,966,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ULS. Daiwa Securities Group Inc. raised its position in UL Solutions by 607.2% during the second quarter. Daiwa Securities Group Inc. now owns 18,494 shares of the company’s stock valued at $1,347,000 after purchasing an additional 15,879 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of UL Solutions in the 2nd quarter valued at $391,000. Gabelli Funds LLC raised its holdings in shares of UL Solutions by 0.4% during the 2nd quarter. Gabelli Funds LLC now owns 119,500 shares of the company’s stock worth $8,707,000 after buying an additional 500 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of UL Solutions by 4.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock worth $304,000 after buying an additional 159 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in UL Solutions by 64.7% in the second quarter. First Trust Advisors LP now owns 723,001 shares of the company’s stock valued at $52,678,000 after buying an additional 283,964 shares in the last quarter.

UL Solutions Trading Up 1.2%

Shares of NYSE ULS opened at $78.01 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33. UL Solutions Inc. has a 52-week low of $48.54 and a 52-week high of $91.95. The firm has a 50 day moving average price of $81.29 and a two-hundred day moving average price of $73.31. The stock has a market cap of $15.67 billion, a P/E ratio of 46.71 and a beta of 0.92.

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

UL Solutions Dividend Announcement

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

Wall Street Analysts Forecast Growth

ULS has been the subject of several research analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $84.00 target price (up previously from $70.00) on shares of UL Solutions in a research note on Wednesday, November 5th. The Goldman Sachs Group increased their price objective on shares of UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of UL Solutions in a research report on Monday. UBS Group upped their price target on shares of UL Solutions from $75.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Finally, Wells Fargo & Company increased their price target on UL Solutions from $77.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $81.71.

Check Out Our Latest Report on UL Solutions

UL Solutions Profile

(Free Report)

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.

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