Federated Hermes Inc. Has $58.22 Million Stock Holdings in UL Solutions Inc. $ULS

Federated Hermes Inc. raised its holdings in UL Solutions Inc. (NYSE:ULS) by 25.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 821,596 shares of the company’s stock after acquiring an additional 164,396 shares during the period. Federated Hermes Inc.’s holdings in UL Solutions were worth $58,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in ULS. Vanguard Personalized Indexing Management LLC boosted its position in shares of UL Solutions by 4.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,541 shares of the company’s stock valued at $251,000 after acquiring an additional 145 shares during the period. Cresset Asset Management LLC raised its stake in UL Solutions by 4.0% during the 2nd quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock valued at $304,000 after purchasing an additional 159 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in 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 during the period. Sheets Smith Wealth Management grew its position in UL Solutions by 3.6% in the 3rd quarter. Sheets Smith Wealth Management now owns 4,674 shares of the company’s stock worth $331,000 after purchasing an additional 164 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of UL Solutions by 48.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock worth $38,000 after purchasing an additional 171 shares during the period.

UL Solutions Stock Down 1.5%

NYSE ULS opened at $71.04 on Friday. The stock has a fifty day moving average of $79.59 and a 200-day moving average of $74.92. The stock has a market capitalization of $14.27 billion, a P/E ratio of 42.54 and a beta of 1.09. UL Solutions Inc. has a 52 week low of $49.34 and a 52 week high of $91.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.56 earnings per share 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 firm had revenue of $783.00 million during the quarter, compared to analysts’ expectations of $769.01 million. During the same period in the previous year, the business posted $0.49 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Friday, November 28th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions’s payout ratio is 31.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of UL Solutions from $77.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. UBS Group reduced their price objective on shares of UL Solutions from $96.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of UL Solutions in a report on Monday, December 29th. The Goldman Sachs Group increased their price objective on UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, Robert W. Baird set a $97.00 price target on shares of UL Solutions and gave the company an “outperform” rating in a report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.57.

About UL Solutions

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.