Allspring Global Investments Holdings LLC Purchases 193,610 Shares of UL Solutions Inc. $ULS

Key Points

• Allspring Global Investments increased its stake in UL Solutions by 12.5% in the first quarter, buying 193,610 additional shares and lifting its total holding to 1.74 million shares worth about $147.5 million.
• Insider selling picked up recently, with CEO Jennifer F. Scanlon and CAO Karen K. Pepping both selling shares; insiders have sold 65,705 shares worth about $6.46 million over the past three months.
• Wall Street sentiment is mixed but constructive: UL Solutions has a consensus “Moderate Buy” rating and an average price target of $101.54, while the company also beat quarterly earnings and revenue estimates in its latest report.

Allspring Global Investments Holdings LLC lifted its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,744,523 shares of the company's stock after acquiring an additional 193,610 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.87% of UL Solutions worth $147,534,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Royal Bank of Canada lifted its position in UL Solutions by 119.5% during the 1st quarter. Royal Bank of Canada now owns 143,431 shares of the company's stock worth $8,090,000 after buying an additional 78,081 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of UL Solutions by 104.3% in the first quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company's stock worth $25,953,000 after acquiring an additional 234,913 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of UL Solutions by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company's stock worth $6,981,000 after purchasing an additional 13,205 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of UL Solutions during the first quarter worth approximately $49,000. Finally, Creative Planning bought a new stake in shares of UL Solutions during the second quarter valued at approximately $208,000.

Insider Transactions at UL Solutions

In other UL Solutions news, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $99.22, for a total value of $1,240,250.00. Following the sale, the chief executive officer directly owned 164,224 shares in the company, valued at approximately $16,294,305.28. This trade represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Karen K. Pepping sold 725 shares of UL Solutions stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total transaction of $70,861.50. Following the transaction, the chief accounting officer directly owned 8,082 shares in the company, valued at approximately $789,934.68. This represents a 8.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 65,705 shares of company stock valued at $6,460,300. Corporate insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded UL Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Telsey Advisory Group set a $100.00 price target on UL Solutions in a report on Wednesday, May 6th. UBS Group upgraded UL Solutions from a "neutral" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Tuesday. Wall Street Zen raised UL Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Finally, Weiss Ratings upgraded shares of UL Solutions from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, UL Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $101.54.

UL Solutions Price Performance

Shares of ULS opened at $89.77 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. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The stock has a market cap of $18.09 billion, a P/E ratio of 52.50, a price-to-earnings-growth ratio of 3.41 and a beta of 0.63. The stock's 50-day moving average price is $96.10 and its two-hundred day moving average price is $86.73.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, beating 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 analysts' expectations of $748.50 million. During the same period in the prior year, the business posted $0.37 EPS. UL Solutions's revenue was up 7.5% on a year-over-year basis. On average, equities analysts predict that UL Solutions Inc. will post 2.1 earnings per share for the current year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders 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 is presently 33.92%.

UL Solutions Company 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.

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