UL Solutions (NYSE:ULS) Releases Earnings Results, Beats Estimates By $0.09 EPS

UL Solutions (NYSE:ULS) released its quarterly earnings results on Tuesday. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09, Briefing.com reports. The firm 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 37.33% and a net margin of 11.08%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS.

UL Solutions Price Performance

Shares of NYSE:ULS traded down $1.82 during midday trading on Wednesday, reaching $85.14. 114,167 shares of the company were exchanged, compared to its average volume of 775,789. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average is $71.49 and its two-hundred day moving average is $69.61. UL Solutions has a one year low of $48.54 and a one year high of $91.95. The stock has a market cap of $17.10 billion, a PE ratio of 52.55 and a beta of 1.05.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 29th were given a dividend of $0.13 per share. The ex-dividend date was Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.6%. UL Solutions’s dividend payout ratio is currently 32.10%.

Hedge Funds Weigh In On UL Solutions

A number of large investors have recently bought and sold shares of ULS. Northwestern Mutual Wealth Management Co. grew its position in UL Solutions by 3,070.0% in the 2nd 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 last quarter. Rhumbline Advisers purchased a new stake in shares of UL Solutions during the first quarter valued at $49,000. Creative Planning purchased a new stake in shares of UL Solutions during the second quarter valued at $208,000. Cresset Asset Management LLC boosted its position in UL Solutions by 4.0% in the 2nd quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock valued at $304,000 after buying an additional 159 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in UL Solutions in the 2nd quarter valued at about $391,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ULS shares. Weiss Ratings restated a “buy (b)” rating on shares of UL Solutions in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $84.00 price target (up from $70.00) on shares of UL Solutions in a research report on Wednesday. Finally, UBS Group increased their price target on shares of UL Solutions from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, UL Solutions currently has an average rating of “Hold” and a consensus price target of $73.57.

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.