UL Solutions Inc. (NYSE:ULS - Get Free Report) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 2,610,000 shares, agrowthof687.8% from the June 30th total of 331,300 shares. Based on an average daily trading volume, of 832,100 shares, the days-to-cover ratio is presently 3.1 days. Currently,4.2% of the company's stock are sold short. Currently,4.2% of the company's stock are sold short. Based on an average daily trading volume, of 832,100 shares, the days-to-cover ratio is presently 3.1 days.
UL Solutions Trading Up 1.2%
ULS stock traded up $0.81 during trading on Wednesday, hitting $65.44. 1,854,879 shares of the company traded hands, compared to its average volume of 794,791. The company has a 50-day moving average of $71.06 and a 200-day moving average of $62.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.24 and a current ratio of 1.24. UL Solutions has a 1 year low of $46.79 and a 1 year high of $74.15. The firm has a market capitalization of $13.12 billion, a PE ratio of 39.18 and a beta of 1.00.
UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.05. The firm had revenue of $776.00 million for the quarter, compared to analysts' expectations of $771.55 million. UL Solutions had a net margin of 11.60% and a return on equity of 40.79%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 earnings per share. Analysts predict that UL Solutions will post 1.69 earnings per share for the current fiscal year.
UL Solutions Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.8%. UL Solutions's payout ratio is presently 31.14%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group boosted their price target on shares of UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and issued a $71.00 price objective (up from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Raymond James Financial lifted their price target on UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, UBS Group cut their target price on UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $69.14.
View Our Latest Stock Report on UL Solutions
Insider Transactions at UL Solutions
In other UL Solutions news, EVP Alberto Uggetti sold 1,961 shares of UL Solutions stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total transaction of $137,270.00. Following the transaction, the executive vice president owned 9,285 shares of the company's stock, valued at $649,950. This trade represents a 17.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company's stock.
Hedge Funds Weigh In On UL Solutions
Hedge funds and other institutional investors have recently modified their holdings of the stock. Elequin Capital LP purchased a new stake in shares of UL Solutions during the 1st quarter valued at about $31,000. Quarry LP bought a new stake in shares of UL Solutions in the fourth quarter worth about $32,000. Rhumbline Advisers purchased a new position in UL Solutions in the first quarter worth about $49,000. LRI Investments LLC purchased a new stake in shares of UL Solutions in the second quarter valued at $128,000. Finally, Argent Trust Co bought a new position in UL Solutions during the 1st quarter valued at about $208,000.
About UL Solutions
(
Get Free Report)
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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