Caitong International Asset Management Co. Ltd Purchases 2,793 Shares of UL Solutions Inc. $ULS

Caitong International Asset Management Co. Ltd lifted its position in shares of UL Solutions Inc. (NYSE:ULS) by 1,501.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,979 shares of the company’s stock after purchasing an additional 2,793 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in UL Solutions were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new stake in UL Solutions in the second quarter valued at about $52,396,000. Conestoga Capital Advisors LLC boosted its holdings in UL Solutions by 64.6% during the second quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company’s stock valued at $85,193,000 after purchasing an additional 458,972 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in UL Solutions during the second quarter valued at approximately $32,124,000. Cannon Global Investment Management LLC bought a new stake in shares of UL Solutions in the 2nd quarter valued at approximately $437,000. Finally, Twin Tree Management LP acquired a new position in shares of UL Solutions in the 2nd quarter worth approximately $296,000.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. UBS Group lifted their price target on shares of UL Solutions from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of UL Solutions from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of UL Solutions in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.57.

UL Solutions Price Performance

ULS opened at $79.25 on Friday. UL Solutions Inc. has a one year low of $48.54 and a one year high of $79.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.32 and a quick ratio of 1.32. The company’s 50 day simple moving average is $69.08 and its 200-day simple moving average is $67.93. The stock has a market capitalization of $15.92 billion, a P/E ratio of 48.92 and a beta of 1.04.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. The firm had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $771.55 million. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. UL Solutions’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 EPS. Sell-side analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 29th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions’s payout ratio is currently 32.10%.

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.