UL Solutions (NYSE:ULS) CEO Jennifer Scanlon 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 dated Thursday, October 8th. The stock was sold at an average price of $70.08, for a total transaction of $876,000.00. Following the completion of the transaction, the chief executive officer owned 126,724 shares in the company, valued at $8,880,817.92. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

UL Solutions Stock Performance

UL Solutions stock opened at $70.00 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $14.13 billion, a PE ratio of 28.34, a P/E/G ratio of 2.93 and a beta of 0.72. The company has a 50 day moving average price of $72.13 and a 200-day moving average price of $85.46. UL Solutions Inc. has a fifty-two week low of $63.17 and a fifty-two week high of $107.54.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The company had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $813.62 million. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%. UL Solutions’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, equities analysts forecast that UL Solutions Inc. will post 2.08 earnings per share for the current year.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were given a dividend of $0.1450 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.8%. UL Solutions’s dividend payout ratio is presently 23.48%.

Institutional Investors Weigh In On UL Solutions

A number of hedge funds have recently made changes to their positions in ULS. Parallel Advisors LLC grew its stake in UL Solutions by 349.3% in the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after purchasing an additional 234 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of UL Solutions during the second quarter valued at about $34,000. NewEdge Advisors LLC lifted its position in shares of UL Solutions by 50.0% during the second quarter. NewEdge Advisors LLC now owns 450 shares of the company’s stock valued at $46,000 after buying an additional 150 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of UL Solutions by 42.4% in the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock valued at $84,000 after buying an additional 245 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of UL Solutions by 45.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,331 shares of the company’s stock valued at $153,000 after buying an additional 732 shares in the last quarter.

Wall Street Analysts Forecast Growth

ULS has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on UL Solutions from $120.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. Wall Street Zen cut shares of UL Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings downgraded shares of UL Solutions from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, September 21st. Robert W. Baird cut their target price on shares of UL Solutions from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. Finally, The Goldman Sachs Group set a $86.00 price target on shares of UL Solutions in a report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.78.

UL Solutions Company Profile

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that helps organizations assess and manage safety, security, sustainability and performance risks. The company provides testing, inspection and certification services, along with advisory and software solutions, for products, facilities, systems and supply chains.

Its services support a broad range of industries, including consumer products, industrial equipment, energy, mobility, information technology and the built environment.