AltraVue Capital LLC Takes Position in UL Solutions Inc. (NYSE:ULS)

AltraVue Capital LLC bought a new stake in UL Solutions Inc. (NYSE:ULS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 830,766 shares of the company’s stock, valued at approximately $35,050,000. UL Solutions accounts for about 3.5% of AltraVue Capital LLC’s holdings, making the stock its 13th largest position. AltraVue Capital LLC owned 0.42% of UL Solutions at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. acquired a new stake in shares of UL Solutions during the second quarter worth $84,000. TFC Financial Management Inc. acquired a new stake in shares of UL Solutions during the second quarter worth $88,000. Bellecapital International Ltd. acquired a new stake in shares of UL Solutions during the second quarter worth $208,000. Victory Capital Management Inc. acquired a new stake in shares of UL Solutions during the second quarter worth $208,000. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of UL Solutions during the second quarter worth $295,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company lifted their price objective on UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Baird R W cut UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Robert W. Baird boosted their target price on UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their target price on UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.90.

UL Solutions Stock Performance

Shares of UL Solutions stock opened at $49.38 on Thursday. The firm has a 50-day moving average price of $49.50. UL Solutions Inc. has a one year low of $33.15 and a one year high of $56.28. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29.

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

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were issued a $0.125 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.01%.

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.