UL Solutions (NYSE:ULS) Insider Gitte Schjotz Sells 12,015 Shares

UL Solutions Inc. (NYSE:ULS) insider Gitte Schjotz sold 12,015 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $99.71, for a total transaction of $1,198,015.65. Following the transaction, the insider owned 69,206 shares in the company, valued at approximately $6,900,530.26. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, June 3rd, Gitte Schjotz sold 9,865 shares of UL Solutions stock. The stock was sold at an average price of $96.98, for a total transaction of $956,707.70.
• On Thursday, May 7th, Gitte Schjotz sold 8,000 shares of UL Solutions stock. The stock was sold at an average price of $103.96, for a total transaction of $831,680.00.

UL Solutions Stock Up 1.4%

Shares of UL Solutions stock opened at $99.39 on Friday. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 58.12, a PEG ratio of 3.81 and a beta of 0.63. The firm’s 50-day moving average is $93.20 and its two-hundred day moving average is $84.30. 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.

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

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Friday, May 29th will be given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. UL Solutions’s dividend payout ratio is presently 33.92%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Zacks Research raised shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. Citigroup increased their price target on shares of UL Solutions from $87.80 to $106.40 and gave the stock a “neutral” rating in a report on Thursday, May 7th. BNP Paribas Exane began coverage on shares of UL Solutions in a report on Monday, April 20th. They issued a “neutral” rating and a $95.00 price target on the stock. Finally, Bank of America increased 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, UL Solutions presently has an average rating of “Moderate Buy” and an average target price of $101.54.

Hedge Funds Weigh In On UL Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in 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 period. Assetmark Inc. acquired a new stake in shares of UL Solutions during the 3rd quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after purchasing an additional 614 shares during the period. Rhumbline Advisers acquired a new stake in shares of UL Solutions during the 1st quarter worth approximately $49,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of 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 during the period.

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.