UL Solutions Inc. $ULS Holdings Decreased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its UL Solutions stake by 8.2%, selling 127,999 shares; it held about 1.44 million shares, valued at $95.7 million, at quarter-end.
• UL Solutions reported quarterly EPS of $0.62, matching estimates, while revenue of $823 million topped forecasts and rose 5.1% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $95.84; CEO Jennifer Scanlon also sold 12,500 shares, and insiders sold 37,500 shares over the past 90 days.

Allspring Global Investments Holdings LLC lessened its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 8.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,438,974 shares of the company's stock after selling 127,999 shares during the period. Allspring Global Investments Holdings LLC owned 0.71% of UL Solutions worth $95,692,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC increased its stake in UL Solutions by 50.0% in the second quarter. NewEdge Advisors LLC now owns 450 shares of the company's stock valued at $46,000 after purchasing an additional 150 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in UL Solutions by 5.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,404 shares of the company's stock valued at $449,000 after buying an additional 217 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of UL Solutions by 349.3% during the 1st 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. GAMMA Investing LLC increased its position in shares of UL Solutions by 42.4% during the second quarter. GAMMA Investing LLC now owns 823 shares of the company's stock valued at $84,000 after acquiring an additional 245 shares during the last quarter. Finally, Centaurus Financial Inc. increased its position in shares of UL Solutions by 11.3% during the first quarter. Centaurus Financial Inc. now owns 2,516 shares of the company's stock valued at $216,000 after acquiring an additional 255 shares during the last quarter.

Insider Activity

In related news, CEO Jennifer Scanlon sold 12,500 shares of the company's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $75.03, for a total value of $937,875.00. Following the completion of the sale, the chief executive officer directly owned 114,224 shares of the company's stock, valued at $8,570,226.72. This represents a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 37,500 shares of company stock worth $2,734,625. 1.20% of the stock is currently owned by corporate insiders.

UL Solutions Stock Performance

UL Solutions stock opened at $81.19 on Tuesday. The stock's 50 day moving average is $71.15 and its 200 day moving average is $82.57. The company has a quick ratio of 1.42, a current ratio of 2.09 and a debt-to-equity ratio of 0.44. UL Solutions Inc. has a twelve month low of $63.17 and a twelve month high of $107.54. The company has a market capitalization of $16.39 billion, a P/E ratio of 40.89, a PEG ratio of 3.31 and a beta of 0.62.

UL Solutions (NYSE:ULS - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.62 EPS for the quarter, hitting analysts' consensus estimates of $0.62. The business had revenue of $823.00 million during the quarter, compared to the consensus estimate of $815.72 million. UL Solutions had a net margin of 16.07% and a return on equity of 26.65%. The firm's revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. On average, equities research analysts predict that UL Solutions Inc. will post 2.09 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were issued a $0.1450 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, August 31st. UL Solutions's dividend payout ratio is presently 23.11%.

Analyst Ratings Changes

Several research firms recently weighed in on ULS. UBS Group increased their price target on shares of UL Solutions from $96.00 to $97.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Wells Fargo & Company lifted their price target on shares of UL Solutions from $104.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, November 4th. Wall Street Zen downgraded UL Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. The Goldman Sachs Group set a $86.00 target price on UL Solutions in a report on Wednesday, August 5th. Finally, William Blair reaffirmed an "outperform" rating on shares of UL Solutions in a research note on Monday, September 21st. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $95.84.

About UL Solutions

UL Solutions Inc provides testing, inspection, certification, software and advisory services focused on product safety, performance and sustainability. Its work helps companies assess products and processes against technical standards and regulatory requirements.

The company serves manufacturers and other organizations across industries and geographies. Its services include product testing and certification, cybersecurity and supply-chain assessments, and software and consulting tools for managing compliance and sustainability efforts.

UL Solutions traces its history to Underwriters' Electrical Bureau, founded in 1894 by engineer William Henry Merrill.

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