Federated Hermes Inc. Buys New Shares in UL Solutions Inc. (NYSE:ULS)

Federated Hermes Inc. bought a new stake in shares of UL Solutions Inc. (NYSE:ULS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 323,200 shares of the company’s stock, valued at approximately $13,636,000. Federated Hermes Inc. owned about 0.16% of UL Solutions at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. acquired a new stake in UL Solutions during the second quarter valued at approximately $84,000. TFC Financial Management Inc. acquired a new stake in UL Solutions during the second quarter valued at approximately $88,000. Bellecapital International Ltd. acquired a new stake in UL Solutions during the second quarter valued at approximately $208,000. Victory Capital Management Inc. acquired a new stake in UL Solutions during the second quarter valued at approximately $208,000. Finally, Levin Capital Strategies L.P. purchased a new stake in shares of UL Solutions in the 2nd quarter valued at approximately $295,000.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ULS shares. Robert W. Baird upped their price target on shares of UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Baird R W downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. upped their price target on shares of UL Solutions from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. The Goldman Sachs Group upped their price target on shares of UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price target on shares of UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Four research 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $43.90.

UL Solutions Trading Up 0.6 %

ULS stock opened at $49.12 on Tuesday. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $56.28. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick ratio of 1.29. The business has a 50 day moving average of $49.28.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.38 by $0.06. The business had revenue of $730.00 million for the quarter, compared to analyst estimates of $718.73 million. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts expect that UL Solutions Inc. will post 1.46 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 1.02%.

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.