UL Solutions Inc. (NYSE:ULS) Shares Bought by Renaissance Capital LLC

Renaissance Capital LLC increased its holdings in UL Solutions Inc. (NYSE:ULS) by 20.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,014 shares of the company’s stock after purchasing an additional 7,015 shares during the quarter. UL Solutions accounts for 1.4% of Renaissance Capital LLC’s holdings, making the stock its 19th biggest position. Renaissance Capital LLC’s holdings in UL Solutions were worth $2,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in shares of UL Solutions in the second quarter valued at $96,262,000. American Century Companies Inc. acquired a new stake in shares of UL Solutions during the second quarter worth $68,832,000. AltraVue Capital LLC purchased a new stake in shares of UL Solutions during the second quarter valued at $35,050,000. Conestoga Capital Advisors LLC acquired a new position in shares of UL Solutions in the 2nd quarter valued at $29,229,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in UL Solutions in the 2nd quarter worth about $25,667,000.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction on Monday, September 23rd. The shares were 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.

Wall Street Analyst Weigh In

ULS has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised 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. Wells Fargo & Company lifted their price target on UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird raised their price objective on UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Citigroup initiated coverage on UL Solutions in a report on Monday, October 7th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Baird R W cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

UL Solutions Stock Performance

UL Solutions stock opened at $53.61 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00. UL Solutions Inc. has a 1-year low of $33.15 and a 1-year high of $56.28. The firm’s fifty day simple moving average is $51.09.

UL Solutions (NYSE:ULS) last posted its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.06. The company had revenue of $730.00 million for the quarter, compared to the consensus estimate of $718.73 million. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that UL Solutions Inc. will post 1.46 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 0.93%.

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.