Envestnet Asset Management Inc. Buys Shares of 73,746 UL Solutions Inc. (NYSE:ULS)

Envestnet Asset Management Inc. purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 73,746 shares of the company’s stock, valued at approximately $3,111,000.

A number of other hedge funds have also modified their holdings of ULS. Federated Hermes Inc. acquired a new stake in shares of UL Solutions during the second quarter valued at about $13,636,000. Raymond James & Associates purchased a new stake in shares of UL Solutions during the second quarter worth $9,089,000. Hall Laurie J Trustee acquired a new stake in shares of UL Solutions in the second quarter valued at $2,066,000. Markel Group Inc. purchased a new position in UL Solutions in the second quarter valued at $1,519,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of UL Solutions during the second quarter worth approximately $586,000.

Analyst Ratings Changes

A number of analysts have issued reports on ULS shares. Wells Fargo & Company lifted their price target on UL Solutions from $43.00 to $56.00 and gave the stock 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 report on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on shares of UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Baird R W downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.90.

Insiders Place Their Bets

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

UL Solutions Trading Up 1.3 %

Shares of NYSE ULS opened at $49.86 on Friday. 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 company has a 50-day moving average of $50.59. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week high of $56.28.

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 business had revenue of $730.00 million for the quarter, compared to analysts’ expectations of $718.73 million. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts anticipate that UL Solutions Inc. will post 1.46 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders 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 1.00%.

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.