Ranger Investment Management L.P. Buys 35,096 Shares of UL Solutions Inc. $ULS

Ranger Investment Management L.P. increased its stake in shares of UL Solutions Inc. (NYSE:ULS) by 8.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 446,930 shares of the company’s stock after acquiring an additional 35,096 shares during the quarter. UL Solutions comprises about 2.8% of Ranger Investment Management L.P.’s holdings, making the stock its 4th largest position. Ranger Investment Management L.P.’s holdings in UL Solutions were worth $38,306,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in UL Solutions by 119.5% during the 1st quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock worth $8,090,000 after buying an additional 78,081 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of UL Solutions by 104.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock valued at $25,953,000 after buying an additional 234,913 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of UL Solutions by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock worth $6,981,000 after acquiring an additional 13,205 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of UL Solutions during the first quarter valued at $49,000. Finally, Creative Planning acquired a new position in shares of UL Solutions during the second quarter valued at $208,000.

Analyst Ratings Changes

A number of brokerages recently commented on ULS. BNP Paribas Exane initiated coverage on UL Solutions in a research report on Monday, April 20th. They issued a “neutral” rating and a $95.00 price objective for the company. Wall Street Zen lowered shares of UL Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. Raymond James Financial reiterated an “outperform” rating and set a $115.00 price target on shares of UL Solutions in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Citigroup increased their price objective on shares of UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a report on Thursday, May 7th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.54.

Insider Activity

In other UL Solutions news, insider Gitte Schjotz sold 12,015 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $99.71, for a total value of $1,198,015.65. Following the sale, the insider directly owned 69,206 shares in the company, valued at approximately $6,900,530.26. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alberto Uggetti sold 6,100 shares of UL Solutions stock in a transaction on Monday, May 11th. The stock was sold at an average price of $100.00, for a total transaction of $610,000.00. Following the transaction, the executive vice president directly owned 10,307 shares in the company, valued at approximately $1,030,700. This represents a 37.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 65,705 shares of company stock valued at $6,460,300. 1.20% of the stock is currently owned by company insiders.

UL Solutions Trading Up 1.7%

NYSE:ULS opened at $91.61 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. UL Solutions Inc. has a 1-year low of $61.64 and a 1-year high of $107.54. The firm has a market capitalization of $18.46 billion, a price-to-earnings ratio of 53.57, a PEG ratio of 3.45 and a beta of 0.63. The business’s 50-day moving average price is $94.23 and its two-hundred day moving average price is $87.06.

UL Solutions (NYSE:ULS) last posted its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. The company had revenue of $758.00 million during the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. On average, equities analysts expect that UL Solutions Inc. will post 2.13 earnings per share for the current year.

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were issued a dividend of $0.145 per share. The ex-dividend date was Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a yield of 0.6%. UL Solutions’s payout ratio is currently 33.92%.

About UL Solutions

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.