Granite Investment Partners LLC Has $3.16 Million Stock Holdings in UL Solutions Inc. $ULS

Granite Investment Partners LLC trimmed its stake in shares of UL Solutions Inc. (NYSE:ULS) by 50.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,310 shares of the company’s stock after selling 44,012 shares during the quarter. Granite Investment Partners LLC’s holdings in UL Solutions were worth $3,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Elequin Capital LP bought a new position in shares of UL Solutions during the 1st quarter worth approximately $31,000. Parkside Financial Bank & Trust raised its stake in UL Solutions by 48.4% during the second quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock worth $38,000 after acquiring an additional 171 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UL Solutions by 3,070.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after acquiring an additional 614 shares during the period. Rhumbline Advisers bought a new position in shares of UL Solutions during the first quarter valued at $49,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of UL Solutions by 28.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock valued at $53,000 after purchasing an additional 161 shares in the last quarter.

UL Solutions Stock Performance

ULS stock opened at $89.02 on Wednesday. UL Solutions Inc. has a 1-year low of $48.54 and a 1-year high of $91.95. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. The firm has a market cap of $17.88 billion, a PE ratio of 53.31 and a beta of 0.92. The business’s 50-day moving average price is $80.21 and its two-hundred day moving average price is $73.04.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The company had revenue of $783.00 million during the quarter, compared to the consensus estimate of $769.01 million. During the same period in the prior year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Friday, November 28th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a yield of 0.6%. UL Solutions’s payout ratio is presently 31.14%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group increased their target price on shares of UL Solutions from $75.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $84.00 target price (up previously from $70.00) on shares of UL Solutions in a research note on Wednesday, November 5th. The Goldman Sachs Group boosted their target price on UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of UL Solutions in a report on Monday. Finally, Wells Fargo & Company boosted their price objective on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $81.71.

About UL Solutions

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.