Electron Capital Partners LLC Trims Position in UL Solutions Inc. $ULS

Electron Capital Partners LLC reduced its stake in shares of UL Solutions Inc. (NYSE:ULS) by 16.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 713,941 shares of the company’s stock after selling 141,498 shares during the quarter. UL Solutions makes up about 2.4% of Electron Capital Partners LLC’s holdings, making the stock its 10th largest position. Electron Capital Partners LLC’s holdings in UL Solutions were worth $61,192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position 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 valued at $125,484,000 after buying an additional 167,564 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in UL Solutions by 543.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 192,915 shares of the company’s stock worth $15,213,000 after acquiring an additional 162,915 shares during the last quarter. Legal & General Group Plc boosted its stake in UL Solutions by 78.6% in the fourth quarter. Legal & General Group Plc now owns 103,331 shares of the company’s stock valued at $8,149,000 after acquiring an additional 45,467 shares during the period. Thrivent Financial for Lutherans boosted its stake in UL Solutions by 9,024.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 337,881 shares of the company’s stock valued at $26,645,000 after acquiring an additional 334,178 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of UL Solutions by 21.9% during the fourth quarter. Geode Capital Management LLC now owns 1,282,676 shares of the company’s stock valued at $101,174,000 after purchasing an additional 230,660 shares during the last quarter.

UL Solutions Stock Up 5.5%

ULS opened at $90.15 on Tuesday. The stock’s 50 day moving average price is $94.40 and its 200 day moving average price is $87.01. 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 stock has a market cap of $18.17 billion, a P/E ratio of 52.72, a P/E/G ratio of 3.27 and a beta of 0.63. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54.

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

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were issued a $0.145 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.58 annualized dividend and a yield of 0.6%. UL Solutions’s dividend payout ratio is presently 33.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ULS. Telsey Advisory Group set a $100.00 price target on UL Solutions in a research report on Wednesday, May 6th. The Goldman Sachs Group restated a “neutral” rating on shares of UL Solutions in a research note on Wednesday, May 6th. Zacks Research cut UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. UBS Group raised shares of UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Tuesday, July 14th. Finally, Citigroup lifted their price objective on shares of UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.54.

Insider Activity

In other UL Solutions news, insider Gitte Schjotz sold 12,015 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $99.71, for a total transaction of $1,198,015.65. Following the sale, the insider directly owned 69,206 shares in the company, valued at approximately $6,900,530.26. The trade was a 14.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Friedrich Hecker sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $102.04, for a total transaction of $408,160.00. Following the sale, the director owned 13,180 shares in the company, valued at $1,344,887.20. This trade represents a 23.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,705 shares of company stock worth $6,460,300 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

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.