Victory Capital Management Inc. Has $1.16 Million Holdings in UL Solutions Inc. (NYSE:ULS)

Victory Capital Management Inc. grew its position in UL Solutions Inc. (NYSE:ULS) by 377.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,540 shares of the company’s stock after buying an additional 18,606 shares during the quarter. Victory Capital Management Inc.’s holdings in UL Solutions were worth $1,161,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of UL Solutions in the 3rd quarter valued at approximately $9,615,000. WoodTrust Financial Corp acquired a new stake in UL Solutions during the 3rd quarter valued at $228,000. Phillips Wealth Planners LLC purchased a new stake in shares of UL Solutions in the third quarter valued at $218,000. Conestoga Capital Advisors LLC lifted its holdings in shares of UL Solutions by 2.3% in the third quarter. Conestoga Capital Advisors LLC now owns 708,513 shares of the company’s stock valued at $34,930,000 after purchasing an additional 15,722 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of UL Solutions by 19.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company’s stock worth $36,805,000 after buying an additional 122,975 shares during the period.

UL Solutions Stock Performance

ULS stock opened at $54.35 on Wednesday. UL Solutions Inc. has a 1 year low of $33.15 and a 1 year high of $59.23. The company has a fifty day simple moving average of $51.37 and a 200 day simple moving average of $47.33. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. The company had revenue of $731.00 million during the quarter, compared to analysts’ expectations of $709.41 million. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts expect that UL Solutions Inc. will post 1.53 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Friday, November 29th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.50 dividend on an annualized basis and a yield of 0.92%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group increased their price objective on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company upped their target price on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Robert W. Baird raised their price target on shares of UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. The Goldman Sachs Group upped their price objective 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. Finally, Citigroup initiated 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 for the company. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, UL Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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.