UL Solutions (NYSE:ULS) Insider Gitte Schjotz Sells 9,865 Shares

UL Solutions Inc. (NYSE:ULS) insider Gitte Schjotz sold 9,865 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $96.98, for a total value of $956,707.70. Following the completion of the transaction, the insider owned 59,341 shares of the company’s stock, valued at $5,754,890.18. The trade was a 14.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Gitte Schjotz also recently made the following trade(s):

• On Tuesday, June 2nd, Gitte Schjotz sold 12,015 shares of UL Solutions stock. The shares were sold at an average price of $99.71, for a total value of $1,198,015.65.
• On Thursday, May 7th, Gitte Schjotz sold 8,000 shares of UL Solutions stock. The shares were sold at an average price of $103.96, for a total value of $831,680.00.

UL Solutions Price Performance

Shares of ULS traded up $1.36 during trading hours on Thursday, reaching $99.39. The stock had a trading volume of 551,412 shares, compared to its average volume of 883,411. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The stock has a market capitalization of $20.03 billion, a PE ratio of 58.12, a PEG ratio of 3.80 and a beta of 0.63. 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’s 50-day moving average is $92.96 and its two-hundred day moving average is $84.22.

UL Solutions (NYSE:ULS) last announced its earnings results 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. The business had revenue of $758.00 million during 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% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. Research analysts expect that UL Solutions Inc. will post 2.1 EPS for the current year.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Friday, May 29th will be given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. UL Solutions’s dividend payout ratio (DPR) is currently 33.92%.

Analyst Ratings Changes

Several research analysts recently issued reports on ULS shares. Wells Fargo & Company raised their target price on UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price on UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Bank of America raised their target price on UL Solutions to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Zacks Research raised UL Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Finally, Robert W. Baird lowered their price objective on UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, UL Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in shares of UL Solutions by 12.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company’s stock worth $125,484,000 after acquiring an additional 167,564 shares in the last quarter. Envestnet Asset Management Inc. increased its position in UL Solutions by 405.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock valued at $42,054,000 after buying an additional 476,121 shares in the last quarter. Truist Financial Corp increased its position in UL Solutions by 1,981.8% in the 3rd quarter. Truist Financial Corp now owns 68,469 shares of the company’s stock valued at $4,852,000 after buying an additional 65,180 shares in the last quarter. Jefferies Financial Group Inc. raised its stake in UL Solutions by 543.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 192,915 shares of the company’s stock worth $15,213,000 after buying an additional 162,915 shares during the period. Finally, Candriam S.C.A. boosted its holdings in UL Solutions by 99.3% in the third quarter. Candriam S.C.A. now owns 108,079 shares of the company’s stock worth $7,658,000 after acquiring an additional 53,856 shares in the last quarter.

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.