Discovery Capital Management LLC CT Makes New $1.06 Million Investment in UL Solutions Inc. (NYSE:ULS)

Discovery Capital Management LLC CT acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,000 shares of the company’s stock, valued at approximately $1,055,000.

A number of other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new position in UL Solutions during the second quarter valued at approximately $29,000. Gabelli Funds LLC acquired a new position in UL Solutions in the 2nd quarter valued at $3,354,000. Symmetry Investments LP bought a new position in UL Solutions in the 2nd quarter worth $274,000. Sei Investments Co. acquired a new position in UL Solutions during the 2nd quarter worth $4,185,000. Finally, XTX Topco Ltd acquired a new position in UL Solutions during the 2nd quarter worth $283,000.

Analyst Ratings Changes

ULS has been the subject of several research analyst reports. The Goldman Sachs Group upped their target price on shares of UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their price target on UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Baird R W lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Finally, Robert W. Baird upped 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. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, UL Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $43.90.

UL Solutions Price Performance

Shares of UL Solutions stock opened at $48.50 on Monday. 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 firm has a 50 day moving average of $49.70. UL Solutions Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $56.28.

UL Solutions (NYSE:ULS) last released its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The firm had revenue of $730.00 million for the quarter, compared to the consensus estimate of $718.73 million. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts expect that UL Solutions Inc. will post 1.46 EPS for the current 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 given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, August 30th.

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.