Picton Mahoney Asset Management Sells 105,219 Shares of UL Solutions Inc. $ULS

Picton Mahoney Asset Management trimmed its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 79.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,492 shares of the company’s stock after selling 105,219 shares during the quarter. Picton Mahoney Asset Management’s holdings in UL Solutions were worth $1,877,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust grew its position in shares of UL Solutions by 48.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock worth $38,000 after purchasing an additional 171 shares in the last quarter. Assetmark Inc. bought a new stake in shares of UL Solutions in the third quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 buying an additional 614 shares during the period. Rhumbline Advisers acquired a new stake in UL Solutions during the first quarter worth approximately $49,000. Finally, PNC Financial Services Group Inc. increased its stake in 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 acquiring an additional 161 shares during the period.

UL Solutions Stock Up 0.3%

Shares of ULS opened at $81.35 on Friday. 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 52 week low of $49.34 and a 52 week high of $91.95. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 51.16, a PEG ratio of 3.33 and a beta of 0.87. The stock has a fifty day moving average of $76.76 and a 200-day moving average of $75.98.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The business had revenue of $789.00 million for the quarter, compared to analyst estimates of $782.37 million. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.UL Solutions’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, sell-side analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

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

Analyst Upgrades and Downgrades

ULS has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on UL Solutions from $97.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Robert W. Baird cut their price objective on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Weiss Ratings lowered shares of UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Citigroup cut their price target on shares of UL Solutions from $88.10 to $87.80 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Finally, Bank of America increased their price target on shares of UL Solutions to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.60.

About UL Solutions

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.