Alberto Uggetti Sells 6,100 Shares of UL Solutions (NYSE:ULS) Stock

UL Solutions Inc. (NYSE:ULS) EVP Alberto Uggetti sold 6,100 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $100.00, for a total value of $610,000.00. Following the transaction, the executive vice president directly owned 10,307 shares in the company, valued at approximately $1,030,700. This represents a 37.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

UL Solutions Trading Up 1.7%

Shares of NYSE ULS traded up $1.62 during trading hours on Wednesday, hitting $98.87. 794,795 shares of the company traded hands, compared to its average volume of 920,696. The stock has a market capitalization of $19.88 billion, a price-to-earnings ratio of 57.82, a price-to-earnings-growth ratio of 3.88 and a beta of 0.59. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average price is $87.53 and its 200 day moving average price is $82.27. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54.

UL Solutions (NYSE:ULS) last released its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. On average, equities research analysts anticipate that UL Solutions Inc. will post 2.06 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were given a dividend of $0.145 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is presently 33.92%.

Analyst Upgrades and Downgrades

ULS has been the topic of several analyst reports. BNP Paribas Exane initiated coverage on UL Solutions in a research report on Monday, April 20th. They set a “neutral” rating and a $95.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and set a $115.00 target price on shares of UL Solutions in a research report on Wednesday, May 6th. Robert W. Baird cut their target price on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Bank of America boosted their target price on UL Solutions to $86.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Finally, Zacks Research raised UL Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, UL Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $101.54.

Hedge Funds Weigh In On UL Solutions

Several hedge funds have recently bought and sold shares of ULS. Parallel Advisors LLC grew its position in UL Solutions by 349.3% in the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after acquiring an additional 234 shares during the last quarter. Assetmark Inc. bought a new position in UL Solutions in the 3rd quarter valued at $40,000. Northwestern Mutual Wealth Management Co. grew its position in UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after acquiring an additional 614 shares during the last quarter. Rhumbline Advisers bought a new position in UL Solutions in the 1st quarter valued at $49,000. Finally, PNC Financial Services Group Inc. grew its position in UL Solutions by 18.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock valued at $61,000 after acquiring an additional 133 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.