UL Solutions Inc. $ULS Shares Sold by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc cut its UL Solutions stake by 62.3% in the first quarter, selling 96,120 shares and leaving it with 58,214 shares valued at about $4.99 million.
• Insider selling picked up, with Gitte Schjotz and director Friedrich Hecker both reducing their holdings; insiders sold a total of 65,705 shares worth $6.29 million over the last three months.
• UL Solutions reported better-than-expected quarterly results, posting EPS of $0.50 versus $0.42 expected and revenue of $758 million, while also paying a quarterly dividend of $0.145 per share.

AEGON ASSET MANAGEMENT UK Plc trimmed its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 62.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,214 shares of the company's stock after selling 96,120 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in UL Solutions were worth $4,990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in shares of UL Solutions by 119.5% in the first quarter. Royal Bank of Canada now owns 143,431 shares of the company's stock worth $8,090,000 after buying an additional 78,081 shares during the last quarter. Goldman Sachs Group Inc. raised its position in UL Solutions by 104.3% during the first quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company's stock valued at $25,953,000 after acquiring an additional 234,913 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in UL Solutions by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company's stock valued at $6,981,000 after acquiring an additional 13,205 shares in the last quarter. Rhumbline Advisers acquired a new position in UL Solutions in the first quarter valued at approximately $49,000. Finally, Creative Planning acquired a new position in UL Solutions in the second quarter valued at approximately $208,000.

Insider Activity at UL Solutions

In other news, insider Gitte Schjotz sold 12,015 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $99.71, for a total transaction of $1,198,015.65. Following the completion of the sale, the insider owned 69,206 shares of the company's stock, valued at $6,900,530.26. The trade was a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Friedrich Hecker sold 4,000 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $102.04, for a total transaction of $408,160.00. Following the transaction, the director owned 13,180 shares of the company's stock, valued at approximately $1,344,887.20. This trade represents a 23.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 65,705 shares of company stock valued at $6,288,800 in the last three months. Company insiders own 1.20% of the company's stock.

UL Solutions Stock Down 0.1%

UL Solutions stock opened at $91.27 on Friday. The stock has a market capitalization of $18.40 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 3.55 and a beta of 0.63. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The business has a 50 day simple moving average of $95.76 and a 200-day simple moving average of $84.95. 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 announced its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $748.50 million. During the same period in the prior year, the company posted $0.37 EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts anticipate that UL Solutions Inc. will post 2.1 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were given a dividend of $0.145 per share. The ex-dividend date was Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a yield of 0.6%. UL Solutions's dividend payout ratio is currently 33.92%.

Analyst Upgrades and Downgrades

ULS has been the topic of a number of analyst reports. Zacks Research raised shares of UL Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Weiss Ratings upgraded shares of UL Solutions from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, May 8th. The Goldman Sachs Group reissued a "neutral" rating on shares of UL Solutions in a report on Wednesday, May 6th. BNP Paribas Exane began coverage on shares of UL Solutions in a report on Monday, April 20th. They issued a "neutral" rating and a $95.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of UL Solutions from $88.00 to $108.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $101.54.

About UL Solutions

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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