Northwest & Ethical Investments L.P. Invests $84,000 in UL Solutions Inc. (NYSE:ULS)

Northwest & Ethical Investments L.P. bought a new stake in UL Solutions Inc. (NYSE:ULS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,700 shares of the company’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of UL Solutions by 6.9% during the 3rd quarter. FMR LLC now owns 3,565,238 shares of the company’s stock worth $175,766,000 after purchasing an additional 230,886 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in UL Solutions during the second quarter worth $96,262,000. American Century Companies Inc. bought a new stake in UL Solutions during the second quarter worth $68,832,000. AltraVue Capital LLC acquired a new stake in UL Solutions in the second quarter valued at $35,050,000. Finally, DekaBank Deutsche Girozentrale grew its position in shares of UL Solutions by 19.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company’s stock valued at $36,805,000 after acquiring an additional 122,975 shares during the period.

Insider Buying and Selling

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

ULS has been the topic of a number of research analyst reports. Robert W. Baird upped their target price on shares of UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. UBS Group raised their price objective on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their target price on UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group increased their price target on UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Citigroup initiated coverage on shares of UL Solutions in a research report on Monday, October 7th. They set a “buy” rating and a $60.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.00.

UL Solutions Stock Performance

ULS opened at $53.73 on Monday. The stock has a fifty day moving average of $51.75 and a 200-day moving average of $47.81. UL Solutions Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $59.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The firm had revenue of $731.00 million during the quarter, compared to the consensus estimate of $709.41 million. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts forecast that UL Solutions Inc. will post 1.53 EPS for the current year.

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, November 29th.

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.