Short Interest in UL Solutions Inc. (NYSE:ULS) Expands By 42.7%

Key Points

• UL Solutions Inc. (NYSE:ULS) saw a significant increase in short interest, rising by 42.7% in August, bringing the total to 3,310,000 shares, which is 5.4% of the company's stock.
• The company reported a quarterly earnings per share (EPS) of $0.52, exceeding analyst expectations and reflecting a 6.3% increase in revenue year-over-year.
• UL Solutions announced a quarterly dividend of $0.13, translating to an annual yield of 0.8%, with the payment date set for September 8th.

UL Solutions Inc. (NYSE:ULS - Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 3,310,000 shares, agrowthof42.7% from the July 31st total of 2,320,000 shares. Currently,5.4% of the company's stock are sold short. Based on an average daily trading volume, of 809,700 shares, the days-to-cover ratio is currently 4.1 days. Based on an average daily trading volume, of 809,700 shares, the days-to-cover ratio is currently 4.1 days. Currently,5.4% of the company's stock are sold short.

UL Solutions Trading Up 0.3%

Shares of ULS stock traded up $0.20 on Monday, reaching $64.05. 1,511,154 shares of the company's stock were exchanged, compared to its average volume of 873,885. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The company's fifty day simple moving average is $68.18 and its 200 day simple moving average is $63.99. The stock has a market capitalization of $12.87 billion, a PE ratio of 39.54 and a beta of 0.98. UL Solutions has a 52 week low of $46.79 and a 52 week high of $74.15.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $776.00 million during the quarter, compared to analyst estimates of $771.55 million. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The company's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, analysts forecast that UL Solutions will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 29th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 29th. UL Solutions's dividend payout ratio (DPR) is presently 32.10%.

Hedge Funds Weigh In On UL Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sowell Financial Services LLC purchased a new stake in UL Solutions in the 1st quarter worth approximately $227,000. Fifth Third Bancorp raised its stake in shares of UL Solutions by 75.3% during the 1st quarter. Fifth Third Bancorp now owns 9,795 shares of the company's stock worth $552,000 after buying an additional 4,206 shares during the period. SG Americas Securities LLC acquired a new position in shares of UL Solutions during the 1st quarter worth approximately $417,000. Vest Financial LLC acquired a new position in shares of UL Solutions during the 1st quarter worth approximately $881,000. Finally, Cresset Asset Management LLC acquired a new position in shares of UL Solutions during the 1st quarter worth approximately $226,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Citigroup reissued a "neutral" rating and issued a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a report on Wednesday, May 14th. JPMorgan Chase & Co. increased their target price on UL Solutions from $64.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, UBS Group lowered their target price on UL Solutions from $72.00 to $70.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, UL Solutions has an average rating of "Hold" and a consensus price target of $70.86.

UL Solutions Company Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.

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