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 firm’s stock in a transaction 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 sale, the executive vice president directly 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 filing with the Securities & Exchange Commission, which is available through the SEC website.

UL Solutions Stock Performance

Shares of ULS stock opened at $100.37 on Friday. The business’s 50-day moving average price is $88.20 and its 200-day moving average price is $82.55. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. 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 firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of 58.70, a PEG ratio of 3.84 and a beta of 0.59.

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

UL Solutions Increases Dividend

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

Institutional Trading of UL Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Private Client Wealth LLC bought a new position in UL Solutions in the 3rd quarter valued at $1,681,000. Allspring Global Investments Holdings LLC grew its position in UL Solutions by 12.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company’s stock worth $125,484,000 after acquiring an additional 167,564 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in UL Solutions by 405.7% in the third quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock valued at $42,054,000 after acquiring an additional 476,121 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in UL Solutions during the third quarter valued at about $1,436,000. Finally, Truist Financial Corp raised its position in UL Solutions by 1,981.8% during the third quarter. Truist Financial Corp now owns 68,469 shares of the company’s stock valued at $4,852,000 after purchasing an additional 65,180 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on ULS shares. The Goldman Sachs Group restated a “neutral” rating on shares of UL Solutions in a research report on Wednesday, May 6th. Citigroup upped their price objective on shares of UL Solutions from $87.80 to $106.40 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Bank of America raised their price target on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Wells Fargo & Company upped their target price on shares of UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. increased their price target on UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One investment 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.