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 firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $99.22, for a total transaction of $1,240,250.00. Following the completion of the sale, the chief executive officer owned 164,224 shares of the company’s stock, valued at $16,294,305.28. This trade represents a 7.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

UL Solutions Trading Up 0.1%

Shares of ULS opened at $97.12 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average is $97.18 and its two-hundred day moving average is $86.07. UL Solutions Inc. has a twelve month low of $61.64 and a twelve month high of $107.54. The firm has a market capitalization of $19.58 billion, a P/E ratio of 56.80, a PEG ratio of 3.77 and a beta of 0.63.

UL Solutions (NYSE:ULS) last issued its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. On average, research analysts predict that UL Solutions Inc. will post 2.1 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group lifted their price objective on UL Solutions from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings raised UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 8th. Citigroup raised their price target on UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Wells Fargo & Company lifted their price target on UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.54.

Institutional Investors Weigh In On UL Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of ULS. Parallel Advisors LLC increased its position in UL Solutions by 349.3% during the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after buying an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after acquiring an additional 614 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of UL Solutions in the first quarter valued at $49,000. PNC Financial Services Group Inc. lifted its position 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 acquiring an additional 133 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of UL Solutions by 112.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after acquiring an additional 479 shares during the last quarter.

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.