Insider Selling: UL Solutions (NYSE:ULS) CEO Sells $920,750.00 in Stock

UL Solutions Inc. (NYSE:ULS) CEO Jennifer Scanlon sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $73.66, for a total transaction of $920,750.00. Following the completion of the sale, the chief executive officer directly owned 139,224 shares in the company, valued at $10,255,239.84. This represents a 8.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

UL Solutions Trading Down 1.1%

Shares of UL Solutions stock opened at $73.84 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The firm has a market cap of $14.91 billion, a PE ratio of 29.89, a PEG ratio of 3.06 and a beta of 0.63. The company has a 50 day simple moving average of $83.46 and a two-hundred day simple moving average of $87.82.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $816.00 million for the quarter, compared to analyst estimates of $813.62 million. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. Analysts expect that UL Solutions Inc. will post 2.08 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 31st will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. UL Solutions’s dividend payout ratio is currently 23.48%.

Institutional Investors Weigh In On UL Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in UL Solutions by 10,220.7% in the 2nd quarter. California State Teachers Retirement System now owns 8,703,631 shares of the company’s stock worth $886,552,000 after purchasing an additional 8,619,299 shares during the period. Ghisallo Capital Management LLC boosted its stake in shares of UL Solutions by 1,299.3% during the fourth quarter. Ghisallo Capital Management LLC now owns 1,399,273 shares of the company’s stock valued at $110,347,000 after purchasing an additional 1,299,273 shares during the period. State Street Corp grew its holdings in shares of UL Solutions by 272.1% in the fourth quarter. State Street Corp now owns 1,460,723 shares of the company’s stock worth $115,193,000 after purchasing an additional 1,068,194 shares during the last quarter. Norges Bank bought a new position in shares of UL Solutions in the fourth quarter worth approximately $72,719,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of UL Solutions in the fourth quarter worth $69,002,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ULS shares. UBS Group cut their price objective on UL Solutions from $110.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Wells Fargo & Company decreased their price objective on UL Solutions from $120.00 to $104.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Citigroup cut their target price on UL Solutions from $106.40 to $82.80 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Wall Street Zen cut shares of UL Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, The Goldman Sachs Group set a $86.00 price target on shares of UL Solutions in a research note on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.78.

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.