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 business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $85.50, for a total transaction of $1,068,750.00. Following the transaction, the chief executive officer owned 200,774 shares in the company, valued at approximately $17,166,177. This represents a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

UL Solutions Stock Up 0.1%

Shares of NYSE:ULS traded up $0.05 during midday trading on Friday, hitting $84.65. 815,938 shares of the stock were exchanged, compared to its average volume of 929,815. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. UL Solutions Inc. has a 52-week low of $49.93 and a 52-week high of $91.95. The business’s fifty day simple moving average is $78.74 and its two-hundred day simple moving average is $78.68. The company has a market capitalization of $17.02 billion, a PE ratio of 53.24, a P/E/G ratio of 3.47 and a beta of 0.77.

UL Solutions (NYSE:ULS) last issued its earnings results on Thursday, February 19th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The firm had revenue of $789.00 million for the quarter, compared to the consensus estimate of $782.37 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were paid a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio (DPR) is presently 36.48%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ULS shares. JPMorgan Chase & Co. raised their price objective on shares of UL Solutions from $84.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Weiss Ratings lowered shares of UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Bank of America lifted their price objective on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Finally, Wells Fargo & Company upped their price objective on shares of UL Solutions from $97.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.60.

Institutional Investors Weigh In On UL Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in ULS. TD Private Client Wealth LLC acquired a new position in UL Solutions during the third quarter valued at approximately $1,681,000. Envestnet Asset Management Inc. lifted its stake in shares of UL Solutions by 405.7% in the third quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock worth $42,054,000 after buying an additional 476,121 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of UL Solutions by 12.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company’s stock worth $125,484,000 after buying an additional 167,564 shares during the period. Voya Investment Management LLC bought a new stake in shares of UL Solutions during the 3rd quarter worth $24,627,000. Finally, Rakuten Investment Management Inc. acquired a new position in UL Solutions in the 3rd quarter valued at $1,436,000.

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.