UL Solutions (NYSE:ULS) CEO Sells 12,500 Shares of Stock

Key Points

• CEO Jennifer Scanlon sold 12,500 UL Solutions shares at an average price of $70.08, generating $876,000. She retained 126,724 shares, an approximately 9% reduction in her ownership.
• UL Solutions shares fell 0.9% to $70.00, well below their 52-week high of $107.54. The stock has a market capitalization of $14.13 billion and offers a quarterly dividend of $0.145 per share.
• The company exceeded quarterly expectations, reporting $0.59 in earnings per share and $816 million in revenue, up 5.2% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $95.78.

UL Solutions Inc. (NYSE:ULS - Get Free Report) CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $70.08, for a total transaction of $876,000.00. Following the sale, the chief executive officer owned 126,724 shares of the company's stock, valued at approximately $8,880,817.92. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

UL Solutions Trading Down 0.9%

Shares of ULS stock traded down $0.65 during trading hours on Friday, hitting $70.00. The company had a trading volume of 748,419 shares, compared to its average volume of 1,242,830. The stock has a market capitalization of $14.13 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 2.93 and a beta of 0.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. UL Solutions Inc. has a fifty-two week low of $63.17 and a fifty-two week high of $107.54. The company's fifty day moving average is $72.13 and its 200 day moving average is $85.46.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 EPS 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 for the quarter, compared to analysts' expectations of $813.62 million. During the same period in the prior year, the firm earned $0.52 earnings per share. The firm's revenue was up 5.2% compared to the same quarter last year. Research analysts expect that UL Solutions Inc. will post 2.08 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were given a dividend of $0.1450 per share. This represents a $0.58 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 31st. UL Solutions's payout ratio is 23.48%.

Institutional Trading of UL Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in 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 during the last quarter. Integrated Wealth Concepts LLC purchased a new position in UL Solutions during the 2nd quarter worth $34,000. 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 during the period. GAMMA Investing LLC increased its stake in UL Solutions by 42.4% in the second quarter. GAMMA Investing LLC now owns 823 shares of the company's stock valued at $84,000 after purchasing an additional 245 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of UL Solutions by 33.6% in the first quarter. Public Employees Retirement System of Ohio now owns 1,945 shares of the company's stock valued at $167,000 after buying an additional 489 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ULS shares. Citigroup cut their price target on UL Solutions from $106.40 to $82.80 and set a "neutral" rating on the stock in a research note on Wednesday, August 5th. UBS Group lowered their price objective on UL Solutions from $110.00 to $96.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $86.00 price objective on UL Solutions in a report on Wednesday, August 5th. Zacks Research lowered UL Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded UL Solutions from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.78.

UL Solutions Company Profile

UL Solutions Inc NYSE: ULS is a global applied safety science company that helps organizations assess and manage safety, security, sustainability and performance risks. The company provides testing, inspection and certification services, along with advisory and software solutions, for products, facilities, systems and supply chains.

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

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