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

by · The Cerbat Gem

UL Solutions Inc. (NYSE:ULSGet Free Report) CEO Jennifer Scanlon sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $85.50, for a total value of $1,068,750.00. Following the transaction, the chief executive officer directly owned 200,774 shares of the company’s stock, valued at $17,166,177. This represents a 5.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

UL Solutions Price Performance

NYSE:ULS traded up $0.05 during mid-day trading on Friday, reaching $84.65. 815,938 shares of the stock were exchanged, compared to its average volume of 929,815. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average price of $78.74 and a 200 day moving average price of $78.68. UL Solutions Inc. has a 1-year low of $49.93 and a 1-year high of $91.95. The firm has a market capitalization of $17.02 billion, a PE ratio of 53.24, a PEG ratio of 3.47 and a beta of 0.77.

UL Solutions (NYSE:ULSGet Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The company had revenue of $789.00 million during the quarter, compared to the consensus estimate of $782.37 million. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. UL Solutions’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 EPS. Research analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were issued a dividend of $0.145 per share. The ex-dividend date was Monday, March 2nd. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 dividend on an annualized basis and a yield of 0.7%. UL Solutions’s payout ratio is 36.48%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Citigroup decreased their target price on UL Solutions from $88.10 to $87.80 and set a “neutral” rating on the stock in a report on Tuesday, February 24th. Robert W. Baird cut their target price on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Wells Fargo & Company upped their target price on UL Solutions from $97.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a research note on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, UL Solutions has a consensus rating of “Hold” and an average target price of $87.60.

Check Out Our Latest Research Report on UL Solutions

Hedge Funds 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 purchased a new position in shares of UL Solutions during the third quarter valued at $1,681,000. Envestnet Asset Management Inc. boosted its holdings in shares of UL Solutions by 405.7% during the third quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock worth $42,054,000 after purchasing an additional 476,121 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of UL Solutions by 12.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company’s stock worth $125,484,000 after purchasing an additional 167,564 shares during the period. Voya Investment Management LLC purchased a new position in UL Solutions during the third quarter valued at approximately $24,627,000. Finally, Rakuten Investment Management Inc. acquired a new position in UL Solutions in the 3rd quarter valued at approximately $1,436,000.

UL Solutions Company Profile

(Get Free Report)

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.

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