Y Intercept Hong Kong Ltd Makes New Investment in UL Solutions Inc. (NYSE:ULS)

Y Intercept Hong Kong Ltd bought a new stake in UL Solutions Inc. (NYSE:ULS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,020 shares of the company’s stock, valued at approximately $395,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in UL Solutions in the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC purchased a new stake in UL Solutions during the second quarter worth about $29,000. Sunbelt Securities Inc. bought a new stake in UL Solutions in the second quarter worth about $72,000. Daiwa Securities Group Inc. purchased a new position in UL Solutions in the second quarter valued at about $84,000. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of UL Solutions during the 3rd quarter valued at approximately $84,000.

Insider Activity at UL Solutions

In related news, insider Gitte Schjotz sold 5,941 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $52.58, for a total transaction of $312,377.78. Following the transaction, the insider now directly owns 69,191 shares of the company’s stock, valued at approximately $3,638,062.78. This trade represents a 7.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s 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 disclosure for this sale can be found here.

Analyst Ratings Changes

ULS has been the topic of several research reports. Robert W. Baird boosted their target price on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. UBS Group boosted their price objective on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company upped their price objective on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Citigroup began coverage on shares of UL Solutions in a research note on Monday, October 7th. They issued a “buy” rating and a $60.00 target price for the company. Finally, The Goldman Sachs Group upped their price target on shares of UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, UL Solutions has a consensus rating of “Moderate Buy” and an average target price of $49.00.

UL Solutions Price Performance

NYSE ULS opened at $51.50 on Tuesday. The company’s 50 day simple moving average is $52.34 and its two-hundred day simple moving average is $48.71. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions Inc. has a 1 year low of $33.15 and a 1 year high of $59.23.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. The company had revenue of $731.00 million during the quarter, compared to analyst estimates of $709.41 million. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts anticipate that UL Solutions Inc. will post 1.53 earnings per share for the current year.

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Friday, November 29th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, November 29th.

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.