UL Solutions (NYSE:ULS) Insider Sells $956,707.70 in Stock

UL Solutions Inc. (NYSE:ULS) insider Gitte Schjotz sold 9,865 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $96.98, for a total value of $956,707.70. Following the completion of the sale, the insider directly owned 59,341 shares of the company’s stock, valued at $5,754,890.18. This trade represents a 14.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Gitte Schjotz also recently made the following trade(s):

• On Tuesday, June 2nd, Gitte Schjotz sold 12,015 shares of UL Solutions stock. The shares were sold at an average price of $99.71, for a total value of $1,198,015.65.
• On Thursday, May 7th, Gitte Schjotz sold 8,000 shares of UL Solutions stock. The shares were sold at an average price of $103.96, for a total value of $831,680.00.

UL Solutions Stock Up 1.4%

ULS stock traded up $1.36 during mid-day trading on Thursday, reaching $99.39. 551,412 shares of the company traded hands, compared to its average volume of 883,411. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 58.12, a P/E/G ratio of 3.80 and a beta of 0.63. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. UL Solutions Inc. has a fifty-two week low of $61.64 and a fifty-two week high of $107.54. The firm’s 50 day moving average price is $92.96 and its 200 day moving average price is $84.22.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $758.00 million during the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. As a group, equities research analysts predict that UL Solutions Inc. will post 2.1 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Friday, May 29th will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. UL Solutions’s payout ratio is presently 33.92%.

Institutional Investors Weigh In On UL Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in UL Solutions by 349.3% during the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after acquiring an additional 234 shares during the period. Assetmark Inc. bought a new stake in UL Solutions during the 3rd quarter valued at $40,000. Northwestern Mutual Wealth Management Co. raised its holdings in UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after acquiring an additional 614 shares during the period. PNC Financial Services Group Inc. raised its holdings in UL Solutions by 18.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock valued at $61,000 after acquiring an additional 133 shares during the period. Finally, Rhumbline Advisers bought a new stake in UL Solutions during the 1st quarter valued at $49,000.

Wall Street Analyst Weigh In

ULS has been the topic of a number of research analyst reports. UBS Group boosted their target price on UL Solutions from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Bank of America lifted their price target on shares of UL Solutions to $86.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Telsey Advisory Group set a $100.00 price target on shares of UL Solutions in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.54.

About UL Solutions

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.