Healthcare of Ontario Pension Plan Trust Fund Buys 400,000 Shares of UL Solutions Inc. (NYSE:ULS)

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of UL Solutions Inc. (NYSE:ULS) by 133.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 700,000 shares of the company’s stock after acquiring an additional 400,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.35% of UL Solutions worth $34,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new position in shares of UL Solutions during the second quarter worth about $29,000. Sunbelt Securities Inc. bought a new position in shares of UL Solutions during the second quarter worth about $72,000. Daiwa Securities Group Inc. bought a new position in shares of UL Solutions during the second quarter worth about $84,000. TFC Financial Management Inc. bought a new stake in UL Solutions in the second quarter worth approximately $88,000. Finally, Bellecapital International Ltd. bought a new stake in UL Solutions in the second quarter worth approximately $208,000.

UL Solutions Stock Performance

Shares of NYSE:ULS opened at $53.64 on Thursday. 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 Inc. has a 12-month low of $33.15 and a 12-month high of $59.23. The business’s 50 day moving average is $51.57 and its 200 day moving average is $47.50.

UL Solutions (NYSE:ULS) last announced its earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. The company had revenue of $731.00 million for 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 business’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts predict that UL Solutions Inc. will post 1.53 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Friday, November 29th will be given a $0.125 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.50 annualized dividend and a yield of 0.93%.

Insiders Place Their Bets

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 stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Analysts Set New Price Targets

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

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.