Concentric Capital Strategies LP Purchases Shares of 25,632 UL Solutions Inc. (NYSE:ULS)

Concentric Capital Strategies LP acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS) in the third quarter, HoldingsChannel.com reports. The firm acquired 25,632 shares of the company’s stock, valued at approximately $1,264,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ULS. Renaissance Technologies LLC bought a new position in UL Solutions during the 2nd quarter valued at about $3,536,000. Victory Capital Management Inc. increased its holdings in shares of UL Solutions by 377.1% during the third quarter. Victory Capital Management Inc. now owns 23,540 shares of the company’s stock worth $1,161,000 after buying an additional 18,606 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of UL Solutions in the third quarter valued at approximately $9,615,000. Federated Hermes Inc. acquired a new position in shares of UL Solutions in the 2nd quarter worth approximately $13,636,000. Finally, Discovery Capital Management LLC CT acquired a new position in shares of UL Solutions in the 2nd quarter worth approximately $1,055,000.

Analysts Set New Price Targets

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

Insider Buying and Selling at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UL Solutions Stock Performance

Shares of UL Solutions stock opened at $52.83 on Tuesday. The firm has a fifty day moving average of $51.82 and a two-hundred day moving average of $47.92. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week high of $59.23.

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

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 29th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.95%. 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.