Lisanti Capital Growth LLC Cuts Stock Position in UL Solutions Inc. $ULS

Key Points

• Lisanti Capital Growth LLC sharply reduced its UL Solutions stake by 75.3% in the fourth quarter, selling 62,699 shares and leaving it with 20,600 shares worth about $1.63 million.
• UL Solutions reported better-than-expected quarterly results, posting EPS of $0.50 versus the $0.42 estimate and revenue of $758 million, up 7.5% year over year.
• The company also announced a quarterly dividend of $0.145 per share, while analysts overall maintain a Moderate Buy consensus with a price target around $101.54.

Lisanti Capital Growth LLC cut its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 75.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,600 shares of the company's stock after selling 62,699 shares during the quarter. Lisanti Capital Growth LLC's holdings in UL Solutions were worth $1,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ULS. Vanguard Group Inc. increased its position in shares of UL Solutions by 21.9% during the fourth quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company's stock worth $531,567,000 after purchasing an additional 1,213,188 shares in the last quarter. Capital International Investors increased its position in shares of UL Solutions by 10.8% during the third quarter. Capital International Investors now owns 7,548,311 shares of the company's stock worth $534,738,000 after purchasing an additional 738,720 shares in the last quarter. Capital Research Global Investors increased its position in shares of UL Solutions by 20.6% during the third quarter. Capital Research Global Investors now owns 3,942,905 shares of the company's stock worth $279,394,000 after purchasing an additional 674,088 shares in the last quarter. Envestnet Asset Management Inc. increased its position 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 in the last quarter. Finally, First Trust Advisors LP increased its position in shares of UL Solutions by 57.3% during the third quarter. First Trust Advisors LP now owns 1,137,364 shares of the company's stock worth $80,594,000 after purchasing an additional 414,363 shares in the last quarter.

UL Solutions Stock Performance

Shares of UL Solutions stock opened at $102.87 on Friday. UL Solutions Inc. has a 52 week low of $61.64 and a 52 week high of $107.54. The business's fifty day simple moving average is $90.49 and its 200-day simple moving average is $83.41. The firm has a market cap of $20.73 billion, a PE ratio of 60.16, a price-to-earnings-growth ratio of 4.00 and a beta of 0.59. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

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 the consensus estimate of $0.42 by $0.08. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The business had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. During the same quarter in the prior year, the company posted $0.37 EPS. The company's quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts forecast that UL Solutions Inc. will post 2.1 earnings per share for the current year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Friday, May 29th will be paid a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.58 annualized dividend and a yield of 0.6%. UL Solutions's dividend payout ratio is presently 33.92%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Raymond James Financial restated an "outperform" rating and issued a $115.00 target price on shares of UL Solutions in a report on Wednesday, May 6th. Robert W. Baird dropped their target price on UL Solutions from $97.00 to $96.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Weiss Ratings upgraded UL Solutions from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, May 8th. Citigroup upped their target price on UL Solutions from $87.80 to $106.40 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, Telsey Advisory Group set a $100.00 target price on UL Solutions in a report on Wednesday, May 6th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.54.

Insider Transactions at UL Solutions

In related news, EVP Alberto Uggetti sold 6,100 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $100.00, for a total transaction of $610,000.00. Following the transaction, the executive vice president owned 10,307 shares of the company's stock, valued at approximately $1,030,700. This represents a 37.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $91.57, for a total value of $1,144,625.00. Following the transaction, the chief executive officer directly owned 188,274 shares in the company, valued at approximately $17,240,250.18. The trade was a 6.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 43,100 shares of company stock worth $4,063,215 in the last 90 days. Insiders own 1.20% of the company's stock.

UL Solutions 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.