UL Solutions Inc. $ULS Shares Bought by Reynders McVeigh Capital Management LLC

Key Points

• Reynders McVeigh Capital Management increased its UL Solutions stake by 3.8% in the second quarter, owning 608,136 shares valued at approximately $61.9 million. Other institutional investors, including WINTON GROUP and NewEdge Advisors, also raised their positions.
• UL Solutions CEO Jennifer Scanlon sold 12,500 shares for about $920,750, while insiders sold 37,500 shares worth $3.3 million over the past 90 days. The stock recently traded at $65.02, near its 12-month low of $64.75 and well below its 50-day and 200-day moving averages.
• The company exceeded quarterly expectations with adjusted earnings of $0.59 per share and revenue of $816 million, up 5.2% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $96.78, and UL Solutions pays a quarterly dividend of $0.145 per share.

Reynders McVeigh Capital Management LLC lifted its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 608,136 shares of the company's stock after purchasing an additional 22,028 shares during the period. UL Solutions comprises about 2.5% of Reynders McVeigh Capital Management LLC's portfolio, making the stock its 14th largest holding. Reynders McVeigh Capital Management LLC owned 0.30% of UL Solutions worth $61,945,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ULS. Sequoia Financial Advisors LLC raised its position in shares of UL Solutions by 5.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,404 shares of the company's stock worth $449,000 after purchasing an additional 217 shares during the last quarter. WINTON GROUP Ltd boosted its stake in UL Solutions by 26.0% during the second quarter. WINTON GROUP Ltd now owns 14,417 shares of the company's stock worth $1,469,000 after buying an additional 2,975 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of UL Solutions in the second quarter valued at about $34,000. NewEdge Advisors LLC grew its stake in shares of UL Solutions by 50.0% in the 2nd quarter. NewEdge Advisors LLC now owns 450 shares of the company's stock valued at $46,000 after buying an additional 150 shares during the period. Finally, Nykredit A S acquired a new stake in UL Solutions during the second quarter worth $303,000.

Insider Activity

In other news, CEO Jennifer Scanlon sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $73.66, for a total value of $920,750.00. Following the completion of the sale, the chief executive officer directly owned 139,224 shares of the company's stock, valued at $10,255,239.84. This trade represents a 8.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 37,500 shares of company stock worth $3,312,000. Corporate insiders own 1.20% of the company's stock.

UL Solutions Stock Performance

Shares of ULS stock traded down $4.48 during mid-day trading on Tuesday, hitting $65.02. 1,194,036 shares of the stock were exchanged, compared to its average volume of 913,292. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 2.96 and a beta of 0.63. UL Solutions Inc. has a 12-month low of $64.75 and a 12-month high of $107.54. The stock's fifty day simple moving average is $80.45 and its two-hundred day simple moving average is $87.73. 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 posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%.The company had revenue of $816.00 million during the quarter, compared to analysts' expectations of $813.62 million. During the same period last year, the firm earned $0.52 EPS. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts forecast that UL Solutions Inc. will post 2.08 EPS for the current year.

UL Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 31st were issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, August 31st. UL Solutions's dividend payout ratio is currently 23.48%.

Wall Street Analysts Forecast Growth

ULS has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of UL Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Zacks Research lowered shares of UL Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings raised shares of UL Solutions from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Robert W. Baird set a $95.00 price target on shares of UL Solutions in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group set a $86.00 price target on shares of UL Solutions in a research note on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, UL Solutions presently has a consensus rating of "Moderate Buy" and an average target price 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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