Centiva Capital LP Makes New $2.86 Million Investment in UL Solutions Inc. (NYSE:ULS)

Centiva Capital LP purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 58,034 shares of the company’s stock, valued at approximately $2,861,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stone House Investment Management LLC purchased a new position in shares of UL Solutions during the 3rd quarter worth $25,000. EverSource Wealth Advisors LLC purchased a new position in shares of UL Solutions during the 2nd quarter worth $29,000. Northwest & Ethical Investments L.P. purchased a new position in shares of UL Solutions during the 3rd quarter worth $84,000. Sunbelt Securities Inc. purchased a new position in shares of UL Solutions during the 2nd quarter worth $72,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of UL Solutions during the 2nd quarter worth $84,000.

Insider Transactions at UL Solutions

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

UL Solutions Stock Down 1.7 %

Shares of NYSE ULS opened at $52.83 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The firm’s fifty day moving average is $51.82 and its two-hundred day moving average is $47.92. UL Solutions Inc. has a 52-week low of $33.15 and a 52-week high of $59.23.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. The company had revenue of $731.00 million for the quarter, compared to the consensus estimate of $709.41 million. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts forecast that UL Solutions Inc. will post 1.53 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be issued a $0.125 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.95%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price target on shares of UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on shares of UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Citigroup started coverage on shares of UL Solutions in a research note on Monday, October 7th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

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.