Insider Selling: UL Solutions (NYSE:ULS) Insider Sells $831,680.00 in Stock

UL Solutions Inc. (NYSE:ULS) insider Gitte Schjotz sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $103.96, for a total transaction of $831,680.00. Following the completion of the transaction, the insider directly owned 81,221 shares of the company’s stock, valued at approximately $8,443,735.16. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

UL Solutions Trading Up 1.7%

NYSE:ULS opened at $98.87 on Thursday. The company has a market cap of $19.88 billion, a P/E ratio of 57.82, a P/E/G ratio of 3.78 and a beta of 0.59. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. The stock’s fifty day moving average price is $87.83 and its two-hundred day moving average price is $82.41.

UL Solutions (NYSE:ULS) last released its quarterly earnings data 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 company had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. As a group, analysts expect that UL Solutions Inc. will post 2.1 EPS for the current year.

UL Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were given a dividend of $0.145 per share. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, March 2nd. UL Solutions’s dividend payout ratio (DPR) is currently 33.92%.

Institutional Investors Weigh In On UL Solutions

Several hedge funds have recently bought and sold shares of ULS. Parallel Advisors LLC increased its holdings in shares of UL Solutions by 349.3% in the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after buying an additional 234 shares during the last quarter. Assetmark Inc. bought a new stake in shares of UL Solutions during the 3rd quarter worth $40,000. Northwestern Mutual Wealth Management Co. grew its position in UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after acquiring an additional 614 shares in the last quarter. Rhumbline Advisers bought a new position in UL Solutions in the first quarter valued at $49,000. Finally, PNC Financial Services Group Inc. increased its stake in UL Solutions by 18.2% in the third 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 last quarter.

Analyst Upgrades and Downgrades

ULS has been the subject of a number of analyst reports. BNP Paribas Exane assumed coverage on shares of UL Solutions in a research report on Monday, April 20th. They issued a “neutral” rating and a $95.00 price objective for the company. Bank of America increased their target price on shares of UL Solutions to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. 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. Raymond James Financial restated an “outperform” rating and set a $115.00 price target on shares of UL Solutions in a research report on Wednesday, May 6th. Finally, UBS Group increased their price objective on UL Solutions from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One equities 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 data from MarketBeat.com, the stock presently has a consensus 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.