Millennium Management LLC Takes Position in UL Solutions Inc. (NYSE:ULS)

Millennium Management LLC bought a new stake in shares of UL Solutions Inc. (NYSE:ULS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 153,421 shares of the company’s stock, valued at approximately $6,473,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ULS. Squarepoint Ops LLC purchased a new stake in shares of UL Solutions during the 2nd quarter valued at approximately $3,776,000. Sandia Investment Management LP purchased a new stake in shares of UL Solutions during the 2nd quarter valued at approximately $738,000. Marshall Wace LLP purchased a new stake in shares of UL Solutions during the 2nd quarter valued at approximately $12,396,000. Davidson Kempner Capital Management LP purchased a new stake in shares of UL Solutions during the 2nd quarter valued at approximately $6,961,000. Finally, Discovery Capital Management LLC CT purchased a new stake in shares of UL Solutions during the 2nd quarter valued at approximately $1,055,000.

Insiders Place Their Bets

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm’s 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 document filed with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ULS shares. Citigroup started coverage on shares of UL Solutions in a research note on Monday. They set a “buy” rating and a $60.00 price target on the stock. The Goldman Sachs Group increased their target price 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 increased their target price on shares of 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 cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, Robert W. Baird increased their target price on shares of UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.80.

UL Solutions Stock Up 1.0 %

ULS stock opened at $51.70 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week high of $56.28. The firm’s fifty day simple moving average is $50.90.

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

UL Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 30th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, August 30th.

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.