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

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 stock was sold at an average price of $73.66, for a total value of $920,750.00. Following the transaction, the chief executive officer directly owned 139,224 shares of the company’s stock, valued at approximately $10,255,239.84. This represents a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

UL Solutions Trading Down 1.1%

ULS opened at $73.84 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. UL Solutions Inc. has a one year low of $61.64 and a one year high of $107.54. The company has a market cap of $14.91 billion, a P/E ratio of 29.89, a PEG ratio of 3.10 and a beta of 0.63. The business’s 50-day simple moving average is $83.46 and its 200-day simple moving average is $87.82.

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

UL Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on ULS. Wells Fargo & Company cut their price target on shares of UL Solutions from $120.00 to $104.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Robert W. Baird set a $95.00 price objective on UL Solutions in a report on Wednesday, August 5th. Zacks Research cut UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. UBS Group reduced their target price on UL Solutions from $110.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Finally, Wall Street Zen cut UL Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, UL Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $96.78.

Institutional Investors Weigh In On UL Solutions

Several institutional investors have recently modified their holdings of ULS. California State Teachers Retirement System grew its holdings in UL Solutions by 10,220.7% in the second quarter. California State Teachers Retirement System now owns 8,703,631 shares of the company’s stock valued at $886,552,000 after purchasing an additional 8,619,299 shares during the last quarter. Capital International Investors grew its stake in UL Solutions by 6.6% in the 4th quarter. Capital International Investors now owns 8,043,735 shares of the company’s stock valued at $634,616,000 after acquiring an additional 495,424 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in UL Solutions by 10.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock valued at $463,618,000 after acquiring an additional 545,528 shares during the last quarter. Janus Henderson Group PLC increased its holdings in UL Solutions by 1.8% during the 4th quarter. Janus Henderson Group PLC now owns 3,024,820 shares of the company’s stock valued at $238,538,000 after acquiring an additional 54,910 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in UL Solutions by 2.0% during the first quarter. Bessemer Group Inc. now owns 2,265,772 shares of the company’s stock worth $194,199,000 after acquiring an additional 44,103 shares during 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.