Victory Capital Management Inc. Takes Position in UL Solutions Inc. (NYSE:ULS)

Victory Capital Management Inc. purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,934 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds have also added to or reduced their stakes in the company. TFC Financial Management Inc. acquired a new stake in shares of UL Solutions during the second quarter worth $88,000. Bellecapital International Ltd. acquired a new stake in UL Solutions in the 2nd quarter worth about $208,000. Legato Capital Management LLC acquired a new stake in UL Solutions in the 2nd quarter worth about $534,000. Bank of New York Mellon Corp acquired a new position in shares of UL Solutions during the 2nd quarter worth approximately $586,000. Finally, Markel Group Inc. bought a new position in shares of UL Solutions during the second quarter worth approximately $1,519,000.

UL Solutions Stock Up 1.6 %

NYSE ULS opened at $49.29 on Tuesday. The business’s fifty day moving average is $49.81. 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 fifty-two week low of $33.15 and a fifty-two week high of $56.28.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data 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 the consensus estimate of $718.73 million. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that UL Solutions Inc. will post 1.46 earnings per share for the current 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 issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a yield of 1.01%.

Analyst Upgrades and Downgrades

ULS has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Baird R W cut UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird upped their price objective on shares of UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group raised their target price on shares of UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a report 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. According to MarketBeat.com, UL Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $43.90.

UL Solutions 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.