Thrivent Financial for Lutherans Sells 9,879 Shares of UL Solutions Inc. $ULS

Thrivent Financial for Lutherans decreased its position in shares of UL Solutions Inc. (NYSE:ULS) by 72.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,703 shares of the company’s stock after selling 9,879 shares during the period. Thrivent Financial for Lutherans’ holdings in UL Solutions were worth $262,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ULS. Bessemer Group Inc. increased its position in shares of UL Solutions by 32.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company’s stock valued at $137,689,000 after purchasing an additional 460,394 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in UL Solutions in the 3rd quarter worth approximately $97,803,000. Norges Bank purchased a new stake in UL Solutions in the second quarter worth approximately $89,174,000. Geode Capital Management LLC grew its position in UL Solutions by 53.1% during the second quarter. Geode Capital Management LLC now owns 999,507 shares of the company’s stock valued at $72,837,000 after acquiring an additional 346,633 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in UL Solutions by 25.0% during the third quarter. Federated Hermes Inc. now owns 821,596 shares of the company’s stock valued at $58,218,000 after acquiring an additional 164,396 shares during the last quarter.

UL Solutions Trading Up 1.3%

Shares of ULS opened at $71.50 on Thursday. The stock has a market capitalization of $14.36 billion, a P/E ratio of 42.81 and a beta of 1.11. UL Solutions Inc. has a twelve month low of $49.34 and a twelve month high of $91.95. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $75.93 and a two-hundred day simple moving average of $74.93.

Analysts Set New Price Targets

ULS has been the subject of a number of recent research reports. Bank of America initiated coverage on shares of UL Solutions in a report on Tuesday. They issued a “buy” rating and a $86.00 price objective for the company. 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 report on Wednesday, November 5th. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of UL Solutions in a research note on Monday, December 29th. Finally, Wells Fargo & Company lifted their price objective on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.88.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.