UL Solutions Inc. $ULS Shares Sold by Walleye Capital LLC

Walleye Capital LLC reduced its position in UL Solutions Inc. (NYSE:ULS) by 82.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,991 shares of the company’s stock after selling 14,496 shares during the quarter. Walleye Capital LLC’s holdings in UL Solutions were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in UL Solutions by 349.3% during the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after acquiring an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 purchasing an additional 614 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the first quarter valued at approximately $49,000. CIBC Private Wealth Group LLC lifted its position 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 buying an additional 479 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in UL Solutions by 60.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock worth $109,000 after buying an additional 519 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ULS shares. Wells Fargo & Company upped their target price on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Citigroup upped their price objective on shares of UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings upgraded shares of UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Raymond James Financial reiterated an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a report on Wednesday, May 6th. Finally, Wall Street Zen cut shares of UL Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

Insider Buying and Selling

In other news, Director Friedrich Hecker sold 4,000 shares of UL Solutions stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $102.04, for a total value of $408,160.00. Following the sale, the director owned 13,180 shares of the company’s stock, valued at $1,344,887.20. The trade was a 23.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alberto Uggetti sold 6,100 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $100.00, for a total value of $610,000.00. Following the completion of the transaction, the executive vice president directly owned 10,307 shares of the company’s stock, valued at approximately $1,030,700. This trade represents a 37.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 65,705 shares of company stock worth $6,460,300. 1.20% of the stock is currently owned by insiders.

UL Solutions Stock Performance

NYSE:ULS opened at $85.60 on Friday. The firm has a market capitalization of $17.25 billion, a PE ratio of 50.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. The business’s fifty day moving average price is $94.57 and its 200 day moving average price is $86.95. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54.

UL Solutions (NYSE:ULS) last issued its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The business 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%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. On average, sell-side analysts anticipate that UL Solutions Inc. will post 2.13 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were given a dividend of $0.145 per share. The ex-dividend date was Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a yield of 0.7%. UL Solutions’s dividend payout ratio is presently 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.