UL Solutions Inc. $ULS Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its position in UL Solutions Inc. (NYSE:ULS) by 14.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 330,207 shares of the company’s stock after selling 56,116 shares during the quarter. Royal Bank of Canada owned 0.16% of UL Solutions worth $28,302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ULS. Ranger Investment Management L.P. increased its position in UL Solutions by 8.5% during the 1st quarter. Ranger Investment Management L.P. now owns 446,930 shares of the company’s stock worth $38,306,000 after purchasing an additional 35,096 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of UL Solutions by 1.3% in the first quarter. The Manufacturers Life Insurance Company now owns 48,596 shares of the company’s stock valued at $4,165,000 after buying an additional 630 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of UL Solutions in the first quarter valued at about $2,997,000. Wealth Alliance LLC raised its holdings in shares of UL Solutions by 19.8% during the 1st quarter. Wealth Alliance LLC now owns 4,898 shares of the company’s stock valued at $420,000 after buying an additional 811 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of UL Solutions by 33.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 1,945 shares of the company’s stock valued at $167,000 after buying an additional 489 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen cut shares of UL Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Citigroup raised their price target on shares of UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a report on Thursday, May 7th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a research note on Wednesday, May 6th. Finally, Zacks Research lowered shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, UL Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $101.54.

Insiders Place Their Bets

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $99.22, for a total transaction of $1,240,250.00. Following the completion of the sale, the chief executive officer owned 164,224 shares of the company’s stock, valued at $16,294,305.28. This represents a 7.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alberto Uggetti sold 6,100 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $100.00, for a total transaction of $610,000.00. Following the sale, the executive vice president owned 10,307 shares in the company, valued at approximately $1,030,700. This trade represents a 37.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 53,205 shares of company stock worth $5,315,675. Corporate insiders own 1.20% of the company’s stock.

UL Solutions Stock Performance

ULS stock opened at $79.36 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The firm has a market cap of $16.00 billion, a P/E ratio of 46.41, a P/E/G ratio of 3.50 and a beta of 0.71. UL Solutions Inc. has a 12-month low of $61.64 and a 12-month high of $107.54. The stock’s 50 day simple moving average is $92.95 and its 200 day simple moving average is $87.34.

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 firm 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 30.99% and a net margin of 11.24%.The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.52 earnings per share. As a group, equities research analysts predict that UL Solutions Inc. will post 2.13 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, May 29th. UL Solutions’s dividend payout ratio (DPR) is presently 33.92%.

UL Solutions Company Profile

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.