Gitte Schjotz Sells 8,000 Shares of UL Solutions (NYSE:ULS) Stock
by Amy Steele · The Cerbat GemUL Solutions Inc. (NYSE:ULS – Get Free Report) insider Gitte Schjotz sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $103.96, for a total value of $831,680.00. Following the completion of the sale, the insider directly owned 81,221 shares of the company’s stock, valued at $8,443,735.16. This trade represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
UL Solutions Stock Down 2.7%
UL Solutions stock traded down $2.75 during mid-day trading on Monday, reaching $97.69. The stock had a trading volume of 683,860 shares, compared to its average volume of 923,878. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. UL Solutions Inc. has a fifty-two week low of $61.64 and a fifty-two week high of $107.54. The stock’s 50-day simple moving average is $86.62 and its 200-day simple moving average is $81.81. The firm has a market capitalization of $19.64 billion, a PE ratio of 57.13, a price-to-earnings-growth ratio of 4.06 and a beta of 0.59.
UL Solutions (NYSE:ULS – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. The company had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.UL Solutions’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 earnings per share. On average, sell-side analysts forecast that UL Solutions Inc. will post 2.02 EPS for the current fiscal year.
UL Solutions Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were given a dividend of $0.145 per share. 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. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. UL Solutions’s payout ratio is presently 33.92%.
Analyst Ratings Changes
ULS has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday. Robert W. Baird dropped their price target on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Telsey Advisory Group set a $100.00 price target on UL Solutions in a report on Wednesday, May 6th. Finally, BNP Paribas Exane initiated coverage on UL Solutions in a report on Monday, April 20th. They set a “neutral” rating and a $95.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.54.
Read Our Latest Stock Analysis on UL Solutions
Institutional Trading of UL Solutions
Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in shares of UL Solutions by 18.2% in the third quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock valued at $61,000 after buying an additional 133 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of UL Solutions by 4.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,541 shares of the company’s stock valued at $251,000 after buying an additional 145 shares during the period. Advisor OS LLC raised its stake in shares of UL Solutions by 4.4% in the fourth quarter. Advisor OS LLC now owns 3,477 shares of the company’s stock valued at $274,000 after buying an additional 147 shares during the period. Cresset Asset Management LLC raised its stake in shares of UL Solutions by 4.0% in the second quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock valued at $304,000 after buying an additional 159 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of UL Solutions by 1.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 15,155 shares of the company’s stock valued at $1,195,000 after buying an additional 194 shares during the period.
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.