Fortis Group Advisors LLC Takes $349,000 Position in UL Solutions Inc. (NYSE:ULS)

Fortis Group Advisors LLC acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 7,086 shares of the company’s stock, valued at approximately $349,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in shares of UL Solutions during the second quarter valued at about $29,000. Sunbelt Securities Inc. acquired a new stake in UL Solutions during the 2nd quarter worth approximately $72,000. Daiwa Securities Group Inc. bought a new stake in UL Solutions during the 2nd quarter worth approximately $84,000. TFC Financial Management Inc. acquired a new position in UL Solutions in the 2nd quarter valued at approximately $88,000. Finally, Bellecapital International Ltd. bought a new position in shares of UL Solutions during the second quarter valued at $208,000.

Analyst Ratings Changes

Several analysts recently weighed in on ULS shares. The Goldman Sachs Group boosted their price objective on shares of UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Robert W. Baird increased their price target on UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price objective on UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Baird R W downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Citigroup initiated coverage on shares of UL Solutions in a report on Monday, October 7th. They set a “buy” rating and a $60.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.80.

UL Solutions Stock Down 0.9 %

NYSE ULS traded down $0.47 on Tuesday, hitting $52.52. 21,511 shares of the company were exchanged, compared to its average volume of 753,868. UL Solutions Inc. has a 12 month low of $33.15 and a 12 month high of $56.28. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.00. The stock’s fifty day moving average is $51.38.

UL Solutions (NYSE:ULS) last issued its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The firm had revenue of $730.00 million for the quarter, compared to analyst estimates of $718.73 million. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that UL Solutions Inc. will post 1.46 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were issued a $0.125 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.95%.

Insider Activity at UL Solutions

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

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.