UL Solutions Inc.’s (NYSE:ULS) Lock-Up Period Will End on October 9th

UL Solutions’ (NYSE:ULS) lock-up period is set to expire on Wednesday, October 9th. UL Solutions had issued 33,800,000 shares in its public offering on April 12th. The total size of the offering was $946,400,000 based on an initial share price of $28.00. After the end of UL Solutions’ lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analysts Set New Price Targets

ULS has been the topic of several research analyst reports. Robert W. Baird lifted their target price on UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their target price on UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Baird R W cut UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, The Goldman Sachs Group increased their price objective on UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.90.

UL Solutions Trading Down 0.3 %

UL Solutions stock opened at $49.15 on Wednesday. UL Solutions has a 52-week low of $33.15 and a 52-week high of $56.28. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick ratio of 1.29. The business’s fifty day moving average is $50.30.

UL Solutions (NYSE:ULS) last announced its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. The business had revenue of $730.00 million during the quarter, compared to analyst estimates of $718.73 million. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that UL Solutions will post 1.46 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.02%.

Insider Activity

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On UL Solutions

A number of hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in UL Solutions in the 2nd quarter valued at approximately $12,657,000. Ghisallo Capital Management LLC acquired a new stake in UL Solutions in the 2nd quarter valued at approximately $20,040,000. Sunbelt Securities Inc. acquired a new stake in UL Solutions in the 2nd quarter valued at approximately $72,000. Sculptor Capital LP acquired a new stake in UL Solutions in the 2nd quarter valued at approximately $1,561,000. Finally, Sessa Capital IM L.P. acquired a new stake in UL Solutions in the 2nd quarter valued at approximately $422,000.

UL Solutions Company Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.