Electron Capital Partners LLC Buys 69,116 Shares of UL Solutions Inc. $ULS

Key Points

• Electron Capital Partners boosted its UL Solutions stake by 8.8% in the fourth quarter, buying 69,116 shares and bringing its total holding to 855,439 shares worth about $67.5 million.
• UL Solutions reported better-than-expected quarterly results, with EPS of $0.50 versus the $0.42 estimate and revenue of $758 million, up 7.5% year over year.
• Analysts remain broadly positive, with a Moderate Buy consensus and an average price target of $101.54, though insider selling has continued, including recent sales by the CEO and CAO.

Electron Capital Partners LLC increased its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 855,439 shares of the company's stock after acquiring an additional 69,116 shares during the quarter. UL Solutions comprises about 3.1% of Electron Capital Partners LLC's investment portfolio, making the stock its 12th largest position. Electron Capital Partners LLC owned approximately 0.43% of UL Solutions worth $67,460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in UL Solutions in the third quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. lifted its stake in UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock valued at $46,000 after buying an additional 614 shares during the period. Rhumbline Advisers bought a new position in UL Solutions during the first quarter worth about $49,000. PNC Financial Services Group Inc. grew its position in shares of UL Solutions by 18.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company's stock worth $61,000 after buying an additional 133 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of UL Solutions by 112.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company's stock worth $71,000 after buying an additional 479 shares during the period.

UL Solutions Stock Down 1.0%

ULS stock opened at $94.40 on Thursday. The business has a 50-day moving average of $95.45 and a 200-day moving average of $84.90. UL Solutions Inc. has a fifty-two week low of $61.64 and a fifty-two week high of $107.54. The stock has a market capitalization of $19.03 billion, a P/E ratio of 55.20, a P/E/G ratio of 3.71 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.08. The company had revenue of $758.00 million during the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The company's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. On average, sell-side analysts anticipate that UL Solutions Inc. will post 2.1 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, May 29th. UL Solutions's dividend payout ratio (DPR) is currently 33.92%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group reissued a "neutral" rating on shares of UL Solutions in a research note on Wednesday, May 6th. Telsey Advisory Group set a $100.00 target price on shares of UL Solutions in a research note on Wednesday, May 6th. Wells Fargo & Company increased their target price on shares of UL Solutions from $102.00 to $120.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Zacks Research upgraded shares of UL Solutions from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. raised their price objective on UL Solutions from $88.00 to $108.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $101.54.

Insider Activity

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $91.57, for a total transaction of $1,144,625.00. Following the sale, the chief executive officer owned 188,274 shares in the company, valued at $17,240,250.18. This represents a 6.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Karen K. Pepping sold 725 shares of the business's 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 owned 8,082 shares in the company, valued at approximately $789,934.68. The trade was a 8.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 65,705 shares of company stock worth $6,288,800. Corporate insiders own 1.20% of the company's stock.

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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