UL Solutions (NYSE:ULS) CEO Sells 12,500 Shares of Stock

UL Solutions Inc. (NYSE:ULS) CEO Jennifer Scanlon sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $99.22, for a total value of $1,240,250.00. Following the completion of the sale, the chief executive officer owned 164,224 shares in the company, valued at approximately $16,294,305.28. This represents a 7.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

UL Solutions Price Performance

ULS stock traded down $0.55 during midday trading on Thursday, hitting $97.12. 962,154 shares of the stock were exchanged, compared to its average volume of 1,211,562. The stock’s 50-day moving average price is $97.04 and its 200-day moving average price is $85.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $19.58 billion, a price-to-earnings ratio of 51.68, a PEG ratio of 3.80 and a beta of 0.63. UL Solutions Inc. has a fifty-two week low of $61.64 and a fifty-two week high of $107.54.

UL Solutions (NYSE:ULS) last posted its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. UL Solutions’s revenue was up 7.5% compared to the same quarter last year. Research analysts predict that UL Solutions Inc. will post 2.1 earnings per share for the current year.

UL Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ULS shares. UBS Group increased their target price on UL Solutions from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Telsey Advisory Group set a $100.00 target price on shares of UL Solutions in a research note on Wednesday, May 6th. Wells Fargo & Company raised their price target on shares of UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. BNP Paribas Exane began coverage on UL Solutions in a report on Monday, April 20th. They set a “neutral” rating and a $95.00 price objective on the stock. Finally, Citigroup boosted their price objective on UL Solutions from $87.80 to $106.40 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.54.

Institutional Investors Weigh In On UL Solutions

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased 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 worth $61,000 after purchasing an additional 133 shares in the last quarter. Advisor OS LLC increased its stake in shares of UL Solutions by 4.4% during the 4th quarter. Advisor OS LLC now owns 3,477 shares of the company’s stock worth $274,000 after purchasing an additional 147 shares during the last quarter. Cresset Asset Management LLC raised its holdings in shares of UL Solutions by 4.0% in the 2nd quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock valued at $304,000 after purchasing an additional 159 shares during the period. Daiwa Securities Group Inc. lifted its stake in UL Solutions by 1.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 15,155 shares of the company’s stock valued at $1,195,000 after purchasing an additional 194 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in UL Solutions by 6.0% during the fourth quarter. Deutsche Bank AG now owns 3,677 shares of the company’s stock worth $290,000 after purchasing an additional 207 shares during the period.

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.