Ghisallo Capital Management LLC Sells 400,000 Shares of UL Solutions Inc. $ULS

Ghisallo Capital Management LLC lessened its holdings in UL Solutions Inc. (NYSE:ULS) by 80.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 100,000 shares of the company’s stock after selling 400,000 shares during the period. Ghisallo Capital Management LLC’s holdings in UL Solutions were worth $7,086,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ULS. Assetmark Inc. bought a new position in UL Solutions in the third quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. boosted its position in UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after acquiring an additional 614 shares in the last quarter. Rhumbline Advisers bought a new stake in UL Solutions during the 1st quarter valued at $49,000. PNC Financial Services Group Inc. increased its holdings in shares of UL Solutions by 28.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock valued at $53,000 after acquiring an additional 161 shares during the period. Finally, HM Payson & Co. purchased a new position in shares of UL Solutions in the 3rd quarter valued at $70,000.

UL Solutions Stock Down 0.6%

UL Solutions stock opened at $83.26 on Friday. UL Solutions Inc. has a 1-year low of $49.93 and a 1-year high of $91.95. The business has a fifty day moving average price of $77.07 and a 200-day moving average price of $76.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $16.74 billion, a price-to-earnings ratio of 52.37, a PEG ratio of 3.44 and a beta of 0.87.

UL Solutions (NYSE:ULS) last announced its earnings results on Thursday, February 19th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The company had revenue of $789.00 million for the quarter, compared to analyst estimates of $782.37 million. During the same period in the prior year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s payout ratio is 36.48%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ULS shares. Wells Fargo & Company upped their price objective on UL Solutions from $97.00 to $102.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a research note on Friday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Bank of America increased their price target on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Finally, Robert W. Baird lowered their price target on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, UL Solutions has a consensus rating of “Hold” and an average price target of $87.60.

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.