Wolverine Asset Management LLC Buys New Position in UL Solutions Inc. $ULS

Wolverine Asset Management LLC bought a new stake in shares of UL Solutions Inc. (NYSE:ULS) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,000 shares of the company’s stock, valued at approximately $1,384,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its holdings in shares of UL Solutions by 7.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,530,367 shares of the company’s stock valued at $255,513,000 after acquiring an additional 305,658 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of UL Solutions by 1.9% during the first quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company’s stock valued at $252,333,000 after acquiring an additional 82,261 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of UL Solutions by 32.2% during the second quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company’s stock valued at $137,689,000 after acquiring an additional 460,394 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in UL Solutions by 64.6% in the second quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock worth $85,193,000 after purchasing an additional 458,972 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in UL Solutions in the first quarter worth $57,999,000.

Wall Street Analyst Weigh In

ULS has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on UL Solutions from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. UBS Group increased their price objective on UL Solutions from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of UL Solutions in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.57.

UL Solutions Trading Down 0.7%

NYSE ULS opened at $77.78 on Friday. UL Solutions Inc. has a 12 month low of $48.54 and a 12 month high of $81.84. The stock has a market cap of $15.63 billion, a P/E ratio of 48.01 and a beta of 1.04. The stock’s fifty day moving average price is $70.69 and its 200-day moving average price is $69.13. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55.

UL Solutions (NYSE:ULS) last released its earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%.The firm had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $771.55 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 29th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions’s dividend payout ratio is currently 32.10%.

About UL Solutions

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.