BNP Paribas Financial Markets Takes $3.72 Million Position in UL Solutions Inc. (NYSE:ULS)

BNP Paribas Financial Markets purchased a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 75,526 shares of the company’s stock, valued at approximately $3,723,000.

A number of other hedge funds have also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of UL Solutions during the third quarter valued at about $1,733,000. FMR LLC raised its position in shares of UL Solutions by 6.9% during the third quarter. FMR LLC now owns 3,565,238 shares of the company’s stock worth $175,766,000 after acquiring an additional 230,886 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of UL Solutions during the third quarter worth about $278,000. Charles Schwab Investment Management Inc. raised its position in shares of UL Solutions by 52.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 342,707 shares of the company’s stock worth $16,895,000 after acquiring an additional 117,794 shares during the last quarter. Finally, Drive Wealth Management LLC bought a new position in shares of UL Solutions during the third quarter worth about $296,000.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ULS. Robert W. Baird raised their price objective on UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. UBS Group raised their price objective on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their target price on UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Citigroup started coverage on UL Solutions in a report on Monday, October 7th. They issued a “buy” rating and a $60.00 target price for the company. Four 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 presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

UL Solutions Trading Up 2.0 %

Shares of UL Solutions stock opened at $54.12 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week high of $59.23. The stock has a 50 day moving average price of $51.99 and a two-hundred day moving average price of $48.08.

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

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 29th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.50 annualized dividend and a dividend yield of 0.92%.

Insider Activity at UL Solutions

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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.