130,000 Shares in UL Solutions Inc. $ULS Bought by Monashee Investment Management LLC

Monashee Investment Management LLC bought a new position in UL Solutions Inc. (NYSE:ULS) during the fourth quarter, HoldingsChannel reports. The fund bought 130,000 shares of the company’s stock, valued at approximately $10,252,000. UL Solutions accounts for 5.8% of Monashee Investment Management LLC’s investment portfolio, making the stock its 4th biggest position.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. bought a new position in UL Solutions in the 3rd quarter worth $40,000. Northwestern Mutual Wealth Management Co. raised its holdings 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 worth $46,000 after purchasing an additional 614 shares during the period. PNC Financial Services Group Inc. raised its holdings in UL Solutions by 18.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock worth $61,000 after purchasing an additional 133 shares during the period. Rhumbline Advisers bought a new position in UL Solutions in the 1st quarter worth $49,000. Finally, US Bancorp DE raised its holdings in UL Solutions by 253.9% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock worth $113,000 after purchasing an additional 1,145 shares during the period.

Insider Transactions at UL Solutions

In other news, CAO Karen K. Pepping sold 725 shares of UL Solutions stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total value of $70,861.50. Following the sale, the chief accounting officer directly owned 8,082 shares of the company’s stock, valued at approximately $789,934.68. The trade was a 8.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gitte Schjotz sold 9,865 shares of UL Solutions stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $96.98, for a total value of $956,707.70. Following the completion of the sale, the insider directly owned 59,341 shares in the company, valued at $5,754,890.18. This trade represents a 14.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 65,705 shares of company stock valued at $6,288,800. 1.20% of the stock is owned by insiders.

UL Solutions Price Performance

NYSE:ULS opened at $98.68 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The business’s 50-day simple moving average is $94.53 and its two-hundred day simple moving average is $84.71. The stock has a market cap of $19.89 billion, a PE ratio of 57.71, a P/E/G ratio of 3.79 and a beta of 0.63. UL Solutions Inc. has a 52 week low of $61.64 and a 52 week high of $107.54.

UL Solutions (NYSE:ULS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. As a group, analysts forecast that UL Solutions Inc. will post 2.1 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s payout ratio is 33.92%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings raised UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 8th. Telsey Advisory Group set a $100.00 price target on UL Solutions in a report on Wednesday, May 6th. Bank of America raised their price target on UL Solutions to $86.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, Wall Street Zen raised UL Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.54.

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.