UL Solutions Inc. $ULS Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its position in shares of UL Solutions Inc. (NYSE:ULS) by 14.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 330,207 shares of the company’s stock after selling 56,116 shares during the quarter. Royal Bank of Canada’s holdings in UL Solutions were worth $28,302,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ULS. Jefferies Financial Group Inc. increased its stake in shares of UL Solutions by 543.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 192,915 shares of the company’s stock valued at $15,213,000 after purchasing an additional 162,915 shares during the period. Legal & General Group Plc boosted its position in shares of UL Solutions by 78.6% during the fourth quarter. Legal & General Group Plc now owns 103,331 shares of the company’s stock worth $8,149,000 after buying an additional 45,467 shares during the period. Geode Capital Management LLC boosted its position in shares of UL Solutions by 21.9% during the fourth quarter. Geode Capital Management LLC now owns 1,282,676 shares of the company’s stock worth $101,174,000 after buying an additional 230,660 shares during the period. Yousif Capital Management LLC bought a new position in UL Solutions in the 4th quarter worth approximately $1,646,000. Finally, Thrivent Financial for Lutherans grew its holdings in UL Solutions by 9,024.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 337,881 shares of the company’s stock worth $26,645,000 after buying an additional 334,178 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ULS. Weiss Ratings raised UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. Raymond James Financial reissued an “outperform” rating and issued a $115.00 price target on shares of UL Solutions in a research note on Wednesday, May 6th. UBS Group raised UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Tuesday, July 14th. Wall Street Zen cut shares of UL Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.54.

Insider Activity

In other news, EVP Alberto Uggetti sold 6,100 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $100.00, for a total transaction of $610,000.00. Following the completion of the transaction, the executive vice president owned 10,307 shares in the company, valued at approximately $1,030,700. This trade represents a 37.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Karen K. Pepping sold 725 shares of UL Solutions stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total transaction of $70,861.50. Following the completion of the transaction, the chief accounting officer directly owned 8,082 shares in the company, valued at $789,934.68. This represents a 8.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,205 shares of company stock valued at $5,315,675 over the last quarter. Insiders own 1.20% of the company’s stock.

UL Solutions Stock Performance

ULS opened at $79.36 on Wednesday. The company has a market capitalization of $16.00 billion, a price-to-earnings ratio of 46.41, a price-to-earnings-growth ratio of 3.50 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. UL Solutions Inc. has a 1-year low of $61.64 and a 1-year high of $107.54. The business has a 50 day moving average price of $92.95 and a two-hundred day moving average price of $87.34.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $813.62 million. During the same period last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts predict that UL Solutions Inc. will post 2.13 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were paid a dividend of $0.145 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.58 annualized dividend and a yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is currently 33.92%.

UL Solutions Profile

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.