Wolverine Asset Management LLC Takes Position in UL Solutions Inc. $ULS

Key Points

• Wolverine Asset Management initiated a position in UL Solutions (NYSE:ULS), buying 45,000 shares in Q4 valued at about $3.55 million.
• CEO Jennifer F. Scanlon sold 12,500 shares on May 1 at an average price of $91.57 (≈$1.145M), trimming her stake by 6.23%; insiders now own about 1.20% of the company.
• ULS beat the quarter with $0.50 EPS vs. $0.42 expected and $758M revenue vs. $748.5M, raised its quarterly dividend to $0.145 (annual $0.58, 0.6% yield), and holds a consensus analyst rating of "Moderate Buy" with a $88.42 target.

Wolverine Asset Management LLC purchased a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 45,000 shares of the company's stock, valued at approximately $3,549,000.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. purchased a new stake in shares of UL Solutions in the 3rd quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock valued at $46,000 after buying an additional 614 shares during the period. Rhumbline Advisers purchased a new stake in shares of UL Solutions in the 1st quarter valued at approximately $49,000. PNC Financial Services Group Inc. grew its stake in shares of UL Solutions by 18.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company's stock valued at $61,000 after buying an additional 133 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of UL Solutions by 3,720.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,299 shares of the company's stock valued at $92,000 after buying an additional 1,265 shares during the period.

Insider Buying and Selling at UL Solutions

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $91.57, for a total value of $1,144,625.00. Following the sale, the chief executive officer directly owned 188,274 shares in the company, valued at approximately $17,240,250.18. This trade represents a 6.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

ULS has been the subject of a number of research analyst reports. Bank of America increased their price objective on shares of UL Solutions to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Citigroup lowered their price objective on shares of UL Solutions from $88.10 to $87.80 and set a "neutral" rating for the company in a research report on Tuesday, February 24th. UBS Group increased their price objective on shares of UL Solutions from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, February 20th. BNP Paribas Exane initiated coverage on shares of UL Solutions in a research report on Monday, April 20th. They set a "neutral" rating and a $95.00 price objective for the company. Finally, Robert W. Baird lowered their price objective on shares of UL Solutions from $97.00 to $96.00 and set an "outperform" rating for the company in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.42.

UL Solutions Stock Performance

NYSE:ULS opened at $89.93 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. UL Solutions Inc. has a fifty-two week low of $59.40 and a fifty-two week high of $94.04. The stock has a market capitalization of $18.08 billion, a P/E ratio of 56.56, a PEG ratio of 3.70 and a beta of 0.59. The company has a 50 day moving average price of $85.22 and a 200 day moving average price of $81.24.

UL Solutions (NYSE:ULS - Get Free Report) last issued 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 net margin of 10.61% and a return on equity of 31.62%. The company had revenue of $758.00 million during the quarter, compared to analysts' expectations of $748.50 million. Equities research analysts forecast that UL Solutions Inc. will post 2.02 EPS for the current year.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, March 2nd. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio (DPR) is 36.48%.

UL Solutions Company 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.