UL Solutions (NYSE:ULS) CEO Jennifer Scanlon Sells 12,500 Shares

UL Solutions Inc. (NYSE:ULS) CEO Jennifer Scanlon sold 12,500 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $73.66, for a total transaction of $920,750.00. Following the transaction, the chief executive officer directly owned 139,224 shares of the company’s stock, valued at $10,255,239.84. This represents a 8.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

UL Solutions Stock Performance

Shares of NYSE ULS traded up $0.44 during mid-day trading on Thursday, hitting $74.56. The company had a trading volume of 503,796 shares, compared to its average volume of 922,950. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The firm has a market cap of $15.05 billion, a P/E ratio of 30.19, a PEG ratio of 3.05 and a beta of 0.63. The business’s 50-day simple moving average is $84.39 and its 200-day simple moving average is $87.89. 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 (NYSE:ULS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 28.81% and a net margin of 16.02%.The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. As a group, analysts predict that UL Solutions Inc. will post 2.08 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citigroup reduced their target price on UL Solutions from $106.40 to $82.80 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Telsey Advisory Group set a $100.00 price target on shares of UL Solutions in a report on Wednesday, May 6th. Wall Street Zen cut shares of UL Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings upgraded shares of UL Solutions from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Six research analysts have rated the stock with 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 $96.78.

Hedge Funds Weigh In On UL Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its stake 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 buying an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in UL Solutions by 3,070.0% in the second 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 during the period. GAMMA Investing LLC raised its stake in UL Solutions by 42.4% during the second quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock worth $84,000 after acquiring an additional 245 shares in the last quarter. Rhumbline Advisers acquired a new position in UL Solutions during the first quarter worth $49,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of UL Solutions by 112.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after acquiring an additional 479 shares during the period.

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.