Massachusetts Financial Services Co. MA Acquires Shares of 2,281,638 UL Solutions Inc. (NYSE:ULS)

Massachusetts Financial Services Co. MA acquired a new stake in UL Solutions Inc. (NYSE:ULS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,281,638 shares of the company’s stock, valued at approximately $96,262,000. Massachusetts Financial Services Co. MA owned 1.14% of UL Solutions at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Envestnet Asset Management Inc. acquired a new stake in shares of UL Solutions in the second quarter worth approximately $3,111,000. Federated Hermes Inc. acquired a new stake in shares of UL Solutions in the second quarter worth approximately $13,636,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of UL Solutions in the second quarter worth approximately $25,667,000. American Century Companies Inc. acquired a new stake in shares of UL Solutions in the second quarter worth approximately $68,832,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of UL Solutions in the second quarter worth approximately $84,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ULS. The Goldman Sachs Group lifted their price target on UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price objective on UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Baird R W downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, 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 report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, UL Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.90.

UL Solutions Stock Up 1.3 %

Shares of NYSE ULS opened at $49.38 on Thursday. UL Solutions Inc. has a twelve month low of $33.15 and a twelve month high of $56.28. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.00. The company has a fifty day moving average price of $49.50.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.44 earnings per share 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 analyst estimates of $718.73 million. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that UL Solutions Inc. will post 1.46 earnings per share for the current year.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors 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 yield of 1.01%.

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.