UL Solutions (NYSE:ULS) CEO Sells $920,750.00 in Stock

Key Points

• CEO Jennifer Scanlon sold 12,500 UL Solutions shares at an average price of $73.66, generating $920,750 and reducing her stake by 8.24% to 139,224 shares.
• UL Solutions shares rose 0.6% to $74.56, while the company’s latest quarterly results beat expectations with $0.59 in EPS and $816 million in revenue, up 5.2% year over year.
• The company declared a quarterly dividend of $0.145 per share, equal to an annualized $0.58 and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $96.78.

UL Solutions Inc. (NYSE:ULS - Get Free Report) CEO Jennifer Scanlon sold 12,500 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $73.66, for a total transaction of $920,750.00. Following the transaction, the chief executive officer owned 139,224 shares in the company, valued at $10,255,239.84. This represents a 8.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

UL Solutions Stock Up 0.6%

Shares of ULS stock traded up $0.44 on Thursday, hitting $74.56. The company's stock had a trading volume of 503,796 shares, compared to its average volume of 922,950. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 3.05 and a beta of 0.63. UL Solutions Inc. has a fifty-two week low of $61.64 and a fifty-two week high of $107.54. The firm's fifty day moving average price is $84.39 and its 200-day moving average price is $87.89. 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 (NYSE:ULS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The firm had revenue of $816.00 million for the quarter, compared to the consensus estimate of $813.62 million. During the same period in the prior year, the business posted $0.52 earnings per share. The business's quarterly revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that UL Solutions Inc. will post 2.08 EPS for the current year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 31st will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. UL Solutions's dividend payout ratio (DPR) is presently 23.48%.

Analysts Set New Price Targets

ULS has been the subject of a number of recent analyst reports. Wall Street Zen cut UL Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Telsey Advisory Group set a $100.00 price target on shares of UL Solutions in a research report on Wednesday, May 6th. UBS Group reduced their price objective on shares of UL Solutions from $110.00 to $96.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Raymond James Financial reaffirmed an "outperform" rating and set a $115.00 price objective on shares of UL Solutions in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group set a $86.00 target price 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 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 price target of $96.78.

Institutional Trading of UL Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in shares of UL Solutions by 349.3% during the first 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. Northwestern Mutual Wealth Management Co. grew its stake in shares of UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock worth $46,000 after acquiring an additional 614 shares during the last quarter. Rhumbline Advisers bought a new position in UL Solutions during the first quarter worth $49,000. CIBC Private Wealth Group LLC increased its position in UL Solutions by 112.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company's stock worth $71,000 after acquiring an additional 479 shares during the period. Finally, GAMMA Investing LLC raised its stake in UL Solutions by 42.4% during the 2nd 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 last quarter.

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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