UL Solutions (NYSE:ULS) Trading Down 4.1% - Here's Why

UL Solutions Inc. (NYSE:ULS - Get Free Report)'s share price was down 4.1% during mid-day trading on Tuesday . The stock traded as low as $68.32 and last traded at $68.89. Approximately 372,810 shares were traded during trading, a decline of 51% from the average daily volume of 755,276 shares. The stock had previously closed at $71.82.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ULS shares. JPMorgan Chase & Co. lifted their price objective on shares of UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Wells Fargo & Company lifted their price objective on shares of UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Robert W. Baird lifted their price objective on shares of UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and set a $71.00 price objective (up from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Finally, Raymond James lifted their price objective on shares of UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $69.43.

UL Solutions Price Performance

The company's 50 day moving average is $63.32 and its 200 day moving average is $56.43. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of 43.94 and a beta of 1.21.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $705.00 million for the quarter, compared to analyst estimates of $704.19 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.73%. UL Solutions's dividend payout ratio (DPR) is 31.14%.

Insider Transactions at UL Solutions

In other UL Solutions news, insider Gitte Schjotz sold 7,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total value of $472,080.00. Following the sale, the insider now owns 46,889 shares of the company's stock, valued at $3,162,194.16. This represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alberto Uggetti sold 1,961 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $70.00, for a total transaction of $137,270.00. Following the sale, the executive vice president now owns 9,285 shares in the company, valued at approximately $649,950. This trade represents a 17.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On UL Solutions

A number of hedge funds have recently made changes to their positions in ULS. Norges Bank purchased a new position in shares of UL Solutions in the 4th quarter valued at $173,869,000. T. Rowe Price Investment Management Inc. raised its stake in shares of UL Solutions by 88.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company's stock valued at $210,729,000 after acquiring an additional 1,987,295 shares during the period. Bessemer Group Inc. purchased a new position in shares of UL Solutions in the 1st quarter valued at $80,618,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of UL Solutions in the 1st quarter valued at $57,999,000. Finally, JPMorgan Chase & Co. raised its stake in shares of UL Solutions by 29.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after acquiring an additional 1,022,851 shares during the period.

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.