Janus Henderson Group PLC Lowers Position in UL Solutions Inc. $ULS

Janus Henderson Group PLC trimmed its position in shares of UL Solutions Inc. (NYSE:ULS) by 1.2% during the first quarter, HoldingsChannel reports. The fund owned 2,987,691 shares of the company’s stock after selling 37,129 shares during the quarter. Janus Henderson Group PLC’s holdings in UL Solutions were worth $256,076,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ULS. Parallel Advisors LLC boosted its holdings in UL Solutions by 349.3% in the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after purchasing an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after buying an additional 614 shares during the period. Rhumbline Advisers purchased a new stake in shares of UL Solutions in the first quarter valued at approximately $49,000. CIBC Private Wealth Group LLC grew its holdings in UL Solutions by 112.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock worth $71,000 after acquiring an additional 479 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in UL Solutions by 60.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock worth $109,000 after acquiring an additional 519 shares in the last quarter.

Insider Transactions at UL Solutions

In related news, EVP Alberto Uggetti sold 6,100 shares of UL Solutions stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $100.00, for a total transaction of $610,000.00. Following the sale, the executive vice president directly owned 10,307 shares in the company, valued at $1,030,700. The trade was a 37.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer F. Scanlon sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 directly owned 164,224 shares of the company’s stock, valued at approximately $16,294,305.28. This represents a 7.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 53,205 shares of company stock worth $5,315,675 over the last quarter. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Telsey Advisory Group set a $100.00 price objective on shares of UL Solutions in a research note on Wednesday, May 6th. Wall Street Zen cut shares of UL Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. 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. Finally, BNP Paribas Exane initiated coverage on UL Solutions in a research note on Monday, April 20th. They issued a “neutral” rating and a $95.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.54.

UL Solutions Stock Down 0.2%

ULS opened at $92.20 on Friday. The firm has a 50 day moving average price of $93.83 and a 200 day moving average price of $87.18. 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 quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $18.58 billion, a PE ratio of 53.92, a price-to-earnings-growth ratio of 3.55 and a beta of 0.63.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. The firm had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.UL Solutions’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. Sell-side analysts expect that UL Solutions Inc. will post 2.13 earnings per share for the current year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s dividend payout ratio is 33.92%.

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.