Insider Selling: UL Solutions (NYSE:ULS) CEO Sells $1,144,625.00 in Stock

UL Solutions Inc. (NYSE:ULS) CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $91.57, for a total value of $1,144,625.00. Following the sale, the chief executive officer directly owned 188,274 shares of the company’s stock, valued at $17,240,250.18. This trade represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

UL Solutions Stock Up 0.1%

Shares of NYSE ULS opened at $91.65 on Monday. The company has a market capitalization of $18.42 billion, a price-to-earnings ratio of 57.64, a price-to-earnings-growth ratio of 3.70 and a beta of 0.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50-day moving average of $85.22 and a two-hundred day moving average of $81.24. UL Solutions Inc. has a 1 year low of $58.78 and a 1 year high of $94.04.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. The company had revenue of $789.00 million for the quarter, compared to analyst estimates of $782.37 million. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, analysts forecast that UL Solutions Inc. will post 2.02 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd were paid a $0.145 dividend. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, March 2nd. UL Solutions’s payout ratio is currently 36.48%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Bank of America increased their price target on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Wells Fargo & Company increased their price target on shares of UL Solutions from $97.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Zacks Research upgraded shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. UBS Group increased their price target on shares of UL Solutions from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Finally, Robert W. Baird dropped their price target on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, UL Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $88.42.

Hedge Funds Weigh In On UL Solutions

Hedge funds have recently modified their holdings of the business. Assetmark Inc. purchased a new position in shares of UL Solutions during the third quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. grew its position in shares of UL Solutions by 3,070.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after acquiring an additional 614 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of UL Solutions during the first quarter worth approximately $49,000. PNC Financial Services Group Inc. grew its position in shares of UL Solutions by 18.2% during the third quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock worth $61,000 after acquiring an additional 133 shares during the last quarter. Finally, HM Payson & Co. purchased a new position in shares of UL Solutions during the third quarter worth approximately $70,000.

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.