Truist Financial Corp Has $4.85 Million Position in UL Solutions Inc. $ULS

Truist Financial Corp grew its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 1,981.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,469 shares of the company’s stock after buying an additional 65,180 shares during the quarter. Truist Financial Corp’s holdings in UL Solutions were worth $4,852,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its position in shares of UL Solutions by 48.4% in the second quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after acquiring an additional 171 shares during the last quarter. 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 purchasing an additional 614 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of UL Solutions by 28.2% during the 2nd 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 last quarter. Rhumbline Advisers acquired a new position in shares of UL Solutions during the 1st quarter worth approximately $49,000. Finally, Amica Mutual Insurance Co. bought a new stake in shares of UL Solutions during the 2nd quarter worth approximately $72,000.

UL Solutions Price Performance

Shares of ULS opened at $70.63 on Wednesday. The company’s 50-day moving average is $78.61 and its 200-day moving average is $74.97. 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 firm has a market capitalization of $14.19 billion, a PE ratio of 42.29 and a beta of 1.11. UL Solutions Inc. has a fifty-two week low of $49.34 and a fifty-two week high of $91.95.

UL Solutions (NYSE:ULS) last announced its earnings results on Tuesday, November 4th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. UL Solutions had a net margin of 11.29% and a return on equity of 34.49%. The business had revenue of $783.00 million during the quarter, compared to the consensus estimate of $769.01 million. During the same quarter in the previous year, the firm posted $0.49 EPS. UL Solutions’s revenue was up 7.1% compared to the same quarter last year. Equities analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on ULS shares. Zacks Research cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings reissued a “buy (b)” rating on shares of UL Solutions in a research report on Monday, December 29th. The Goldman Sachs Group boosted their price objective on shares of UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $84.00 target price (up from $70.00) on shares of UL Solutions in a research note on Wednesday, November 5th. Finally, Robert W. Baird set a $97.00 price target on UL Solutions and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. One 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. Based on data from MarketBeat, UL Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $83.57.

UL Solutions Company Profile

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.