Tidal Investments LLC Sells 78,826 Shares of UL Solutions Inc. $ULS

Key Points

• Tidal Investments cut its UL Solutions stake by 32% in the second quarter, selling 78,826 shares and retaining 167,462 shares valued at approximately $17.1 million.
• UL Solutions exceeded quarterly expectations, reporting EPS of $0.59 versus the $0.56 consensus and revenue of $816 million, up 5.2% year over year. The company also pays a quarterly dividend of $0.145 per share, representing a 0.8% yield.
• Analyst sentiment remains moderately positive, with six Buy ratings and five Holds and an average price target of $96.78. However, several firms recently lowered their targets, while CEO Jennifer Scanlon sold 12,500 shares and insiders sold 37,500 shares during the last quarter.

Tidal Investments LLC lowered its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 32.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 167,462 shares of the company's stock after selling 78,826 shares during the period. Tidal Investments LLC owned 0.08% of UL Solutions worth $17,058,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in UL Solutions by 349.3% in the first quarter. Parallel Advisors LLC now owns 301 shares of the company's stock worth $26,000 after purchasing an additional 234 shares during the period. Integrated Wealth Concepts LLC acquired a new position in UL Solutions during the 2nd quarter valued at about $34,000. NewEdge Advisors LLC lifted its position in UL Solutions by 50.0% during the 2nd quarter. NewEdge Advisors LLC now owns 450 shares of the company's stock valued at $46,000 after purchasing an additional 150 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock worth $46,000 after buying an additional 614 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of UL Solutions by 42.4% during the second quarter. GAMMA Investing LLC now owns 823 shares of the company's stock worth $84,000 after buying an additional 245 shares during the last quarter.

Insiders Place Their Bets

In related news, CEO Jennifer Scanlon sold 12,500 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $73.66, for a total transaction of $920,750.00. Following the sale, the chief executive officer owned 139,224 shares in the company, valued at $10,255,239.84. The trade was a 8.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 37,500 shares of company stock valued at $3,312,000 in the last quarter. Company insiders own 1.20% of the company's stock.

UL Solutions Stock Performance

NYSE ULS opened at $71.25 on Friday. UL Solutions Inc. has a 52-week low of $65.17 and a 52-week high of $107.54. The stock has a market cap of $14.38 billion, a PE ratio of 28.84, a P/E/G ratio of 3.03 and a beta of 0.63. The firm has a 50-day moving average of $81.35 and a 200-day moving average of $87.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

UL Solutions (NYSE:ULS - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The company had revenue of $816.00 million for the quarter, compared to analysts' expectations of $813.62 million. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. On average, sell-side analysts anticipate that UL Solutions Inc. will post 2.08 EPS for the current year.

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 31st were given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, August 31st. UL Solutions's dividend payout ratio is currently 23.48%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ULS. Citigroup reduced their price target on UL Solutions from $106.40 to $82.80 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Robert W. Baird set a $95.00 price target on shares of UL Solutions in a report on Wednesday, August 5th. UBS Group dropped their price objective on UL Solutions from $110.00 to $96.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings raised UL Solutions from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company dropped their target price on shares of UL Solutions from $120.00 to $104.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.78.

About UL Solutions

UL Solutions Inc NYSE: ULS is a global applied safety science company that provides testing, inspection, certification, verification and advisory services. The company helps manufacturers, retailers, regulators and other organizations assess whether products, systems and processes meet applicable safety, security, performance and sustainability requirements.

Its services cover a broad range of industries and technologies, including consumer products, industrial equipment, energy and utilities, chemicals, mobility, information technology and the built environment.

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