American Century Companies Inc. Makes New Investment in UL Solutions Inc. (NYSE:ULS)

American Century Companies Inc. bought a new position in shares of UL Solutions Inc. (NYSE:ULS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,631,475 shares of the company’s stock, valued at approximately $68,832,000. American Century Companies Inc. owned approximately 0.82% of UL Solutions at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ULS. Conestoga Capital Advisors LLC acquired a new position in UL Solutions during the second quarter worth about $29,229,000. Raymond James & Associates purchased a new stake in shares of UL Solutions during the 2nd quarter worth approximately $9,089,000. TD Asset Management Inc acquired a new stake in shares of UL Solutions in the 2nd quarter worth approximately $5,500,000. Lisanti Capital Growth LLC purchased a new position in UL Solutions in the 2nd quarter valued at approximately $4,793,000. Finally, Peregrine Capital Management LLC acquired a new position in UL Solutions during the second quarter worth $2,194,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ULS. Wells Fargo & Company raised their price target on UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their target price on shares of UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. The Goldman Sachs Group increased 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. JPMorgan Chase & Co. lifted their price objective on UL Solutions from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Finally, Baird R W cut UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.90.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $48.84 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00. The stock has a 50-day simple moving average of $49.16. UL Solutions Inc. has a 12-month low of $33.15 and a 12-month high of $56.28.

UL Solutions (NYSE:ULS) last issued 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 company had revenue of $730.00 million for the quarter, compared to analyst estimates of $718.73 million. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts expect that UL Solutions Inc. will post 1.46 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, August 30th.

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.