Weiss Asset Management LP Buys Shares of 34,965 UL Solutions Inc. $ULS

Weiss Asset Management LP bought a new stake in UL Solutions Inc. (NYSE:ULS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,965 shares of the company’s stock, valued at approximately $2,997,000.

A number of other hedge funds have also made changes to their positions in ULS. Wealth Alliance LLC boosted its holdings in shares of UL Solutions by 19.8% during the first quarter. Wealth Alliance LLC now owns 4,898 shares of the company’s stock worth $420,000 after purchasing an additional 811 shares during the period. Public Employees Retirement System of Ohio increased its stake in UL Solutions by 33.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 1,945 shares of the company’s stock valued at $167,000 after buying an additional 489 shares during the period. Bank of Nova Scotia increased its stake in UL Solutions by 21.0% in the 1st quarter. Bank of Nova Scotia now owns 5,598 shares of the company’s stock valued at $480,000 after buying an additional 972 shares during the period. Sei Investments Co. lifted its position in UL Solutions by 15.4% in the 1st quarter. Sei Investments Co. now owns 203,076 shares of the company’s stock worth $17,406,000 after buying an additional 27,165 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in UL Solutions by 174.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,791 shares of the company’s stock worth $325,000 after buying an additional 2,408 shares in the last quarter.

Insider Activity at UL Solutions

In other UL Solutions news, CEO Jennifer F. Scanlon sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $99.22, for a total transaction of $1,240,250.00. Following the transaction, the chief executive officer directly owned 164,224 shares in the company, valued at $16,294,305.28. This trade represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alberto Uggetti sold 6,100 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 10,307 shares of the company’s stock, valued at $1,030,700. This represents a 37.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 65,705 shares of company stock valued at $6,460,300. Insiders own 1.20% of the company’s stock.

UL Solutions Stock Performance

ULS stock opened at $85.60 on Monday. The firm has a 50 day moving average of $94.57 and a two-hundred day moving average of $86.97. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The company has a market capitalization of $17.25 billion, a price-to-earnings ratio of 50.06, a P/E/G ratio of 3.27 and a beta of 0.63. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The business had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. During the same quarter last year, the firm earned $0.37 EPS. UL Solutions’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities analysts anticipate that UL Solutions Inc. will post 2.13 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently announced 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. This represents a $0.58 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s dividend payout ratio is presently 33.92%.

Analyst Ratings Changes

A number of brokerages have issued reports on ULS. Citigroup lifted their target price on shares of UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a research note on Thursday, May 7th. BNP Paribas Exane began coverage on UL Solutions in a report on Monday, April 20th. They set a “neutral” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $101.54.

UL Solutions Profile

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.