Gitte Schjotz Sells 8,000 Shares of UL Solutions (NYSE:ULS) Stock

UL Solutions Inc. (NYSE:ULS) insider Gitte Schjotz sold 8,000 shares of UL Solutions stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $103.96, for a total transaction of $831,680.00. Following the transaction, the insider owned 81,221 shares of the company’s stock, valued at approximately $8,443,735.16. The trade was a 8.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

UL Solutions Stock Down 0.7%

ULS stock opened at $97.07 on Wednesday. The company’s 50 day simple moving average is $87.53 and its 200-day simple moving average is $82.27. The firm has a market capitalization of $19.52 billion, a PE ratio of 56.77, a P/E/G ratio of 3.88 and a beta of 0.59. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month 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 issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $758.00 million during the quarter, compared to the consensus estimate of $748.50 million. During the same period in the previous year, the firm posted $0.37 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts expect that UL Solutions Inc. will post 2.06 earnings per share for the current fiscal 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 issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Monday, March 2nd. UL Solutions’s payout ratio is presently 33.92%.

Hedge Funds Weigh In On UL Solutions

Several institutional investors have recently added to or reduced their stakes in ULS. Royal Bank of Canada boosted its stake in UL Solutions by 119.5% in the 1st quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock worth $8,090,000 after buying an additional 78,081 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of UL Solutions by 104.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock worth $25,953,000 after acquiring an additional 234,913 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of UL Solutions by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock worth $6,981,000 after acquiring an additional 13,205 shares during the period. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the first quarter worth approximately $49,000. Finally, Creative Planning acquired a new stake in shares of UL Solutions in the second quarter worth approximately $208,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ULS shares. Robert W. Baird decreased their price objective on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Telsey Advisory Group set a $100.00 target price on shares of UL Solutions in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their price target on shares of UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.54.

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.