Bessemer Group Inc. Acquires 460,394 Shares of UL Solutions Inc. $ULS

Bessemer Group Inc. boosted its position in UL Solutions Inc. (NYSE:ULS) by 32.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,889,787 shares of the company’s stock after buying an additional 460,394 shares during the quarter. Bessemer Group Inc. owned approximately 0.94% of UL Solutions worth $137,689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ULS. Lisanti Capital Growth LLC grew its stake in UL Solutions by 26.2% in the 1st quarter. Lisanti Capital Growth LLC now owns 118,155 shares of the company’s stock valued at $6,664,000 after buying an additional 24,535 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of UL Solutions during the 1st quarter worth about $555,000. Bank of New York Mellon Corp increased its holdings in shares of UL Solutions by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 146,832 shares of the company’s stock worth $8,281,000 after purchasing an additional 4,200 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of UL Solutions by 3.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 174,224 shares of the company’s stock worth $9,826,000 after purchasing an additional 5,239 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of UL Solutions by 169.6% during the 1st quarter. Victory Capital Management Inc. now owns 84,558 shares of the company’s stock worth $4,769,000 after purchasing an additional 53,195 shares during the period.

Wall Street Analysts Forecast Growth

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

UL Solutions Price Performance

NYSE:ULS opened at $80.02 on Monday. The firm has a market cap of $16.08 billion, a PE ratio of 49.40 and a beta of 1.04. UL Solutions Inc. has a 12 month low of $48.54 and a 12 month high of $80.69. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $69.33 and its two-hundred day moving average price is $68.31.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $776.00 million for the quarter, compared to analyst estimates of $771.55 million. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. On average, equities analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 29th were given a $0.13 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 0.6%. UL Solutions’s payout ratio is 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.