Handelsbanken Fonder AB Acquires 7,300 Shares of UL Solutions Inc. $ULS

Handelsbanken Fonder AB raised its stake in shares of UL Solutions Inc. (NYSE:ULS) by 54.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,600 shares of the company’s stock after purchasing an additional 7,300 shares during the period. Handelsbanken Fonder AB’s holdings in UL Solutions were worth $1,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ULS. TD Private Client Wealth LLC acquired a new position in shares of UL Solutions in the third quarter worth approximately $1,681,000. Envestnet Asset Management Inc. raised its holdings in UL Solutions by 405.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock worth $42,054,000 after purchasing an additional 476,121 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of UL Solutions in the 3rd quarter worth approximately $97,803,000. Voya Investment Management LLC bought a new stake in shares of UL Solutions in the 3rd quarter valued at $24,627,000. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of UL Solutions during the third quarter worth $1,436,000.

UL Solutions Stock Down 1.4%

ULS stock opened at $81.11 on Thursday. The stock’s 50 day simple moving average is $76.71 and its 200 day simple moving average is $75.94. The company has a market cap of $16.31 billion, a P/E ratio of 51.01, a price-to-earnings-growth ratio of 3.38 and a beta of 0.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. 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 released its quarterly earnings data on Thursday, February 19th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The firm had revenue of $789.00 million during the quarter, compared to the consensus estimate of $782.37 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, research analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Monday, March 2nd. UL Solutions’s payout ratio is 36.48%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ULS shares. The Goldman Sachs Group restated a “neutral” rating on shares of UL Solutions in a report on Friday, February 20th. Weiss Ratings lowered UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. raised their target price on UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Wells Fargo & Company boosted their price target on UL Solutions from $97.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Finally, Robert W. Baird cut their price target on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, UL Solutions presently has an average rating of “Hold” and an average target price of $87.60.

UL Solutions 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.