American Century Companies Inc. Boosts Stake in UL Solutions Inc. $ULS

American Century Companies Inc. raised its position in UL Solutions Inc. (NYSE:ULS) by 11.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 620,907 shares of the company’s stock after purchasing an additional 65,730 shares during the quarter. American Century Companies Inc.’s holdings in UL Solutions were worth $43,997,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ULS. Parkside Financial Bank & Trust raised its holdings in shares of UL Solutions by 48.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after buying an additional 171 shares during the period. Assetmark Inc. purchased a new stake in UL Solutions during the third quarter worth about $40,000. Northwestern Mutual Wealth Management Co. lifted its position 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 worth $46,000 after purchasing an additional 614 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of UL Solutions in the first quarter valued at approximately $49,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of UL Solutions by 28.2% in the second 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 during the period.

UL Solutions Stock Down 0.4%

UL Solutions stock opened at $81.22 on Friday. The company has a market capitalization of $16.33 billion, a P/E ratio of 51.08, a PEG ratio of 3.35 and a beta of 0.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. UL Solutions Inc. has a fifty-two week low of $49.34 and a fifty-two week high of $91.95. The stock has a 50-day simple moving average of $76.79 and a 200-day simple moving average of $76.08.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The firm had revenue of $789.00 million for the quarter, compared to the consensus estimate of $782.37 million. During the same quarter last year, the business posted $0.49 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Monday, March 2nd will be issued a dividend of $0.145 per share. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, March 2nd. UL Solutions’s dividend payout ratio is 36.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ULS shares. Citigroup cut their target price on shares of UL Solutions from $88.10 to $87.80 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings downgraded shares of UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Bank of America upped their price objective on UL Solutions to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Zacks Research lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Finally, UBS Group boosted their target price on UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $87.60.

UL Solutions 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.