Reynders McVeigh Capital Management LLC Acquires 132,647 Shares of UL Solutions Inc. (NYSE:ULS)

Reynders McVeigh Capital Management LLC grew its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 56.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 368,709 shares of the company’s stock after purchasing an additional 132,647 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in UL Solutions were worth $18,177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC boosted its position in 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 purchasing an additional 230,886 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of UL Solutions in the second quarter valued at approximately $96,262,000. American Century Companies Inc. bought a new position in shares of UL Solutions in the second quarter valued at approximately $68,832,000. AltraVue Capital LLC bought a new position in shares of UL Solutions in the second quarter valued at approximately $35,050,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of UL Solutions by 19.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company’s stock valued at $36,805,000 after acquiring an additional 122,975 shares during the period.

Analyst Ratings Changes

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

Insider Activity

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $49.00, for a total value of $147,000,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

UL Solutions Stock Up 0.3 %

Shares of UL Solutions stock opened at $52.99 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The company’s fifty day simple moving average is $51.89 and its two-hundred day simple moving average is $48.04. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $59.23.

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

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 29th.

UL Solutions Company 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.