Jennifer Scanlon Sells 12,500 Shares of UL Solutions (NYSE:ULS) Stock

UL Solutions Inc. (NYSE:ULS) CEO Jennifer Scanlon sold 12,500 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $85.50, for a total value of $1,068,750.00. Following the completion of the transaction, the chief executive officer directly owned 200,774 shares in the company, valued at approximately $17,166,177. This trade represents a 5.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

UL Solutions Stock Up 0.1%

Shares of UL Solutions stock opened at $84.65 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. UL Solutions Inc. has a 12 month low of $49.93 and a 12 month high of $91.95. The business has a fifty day simple moving average of $79.01 and a 200 day simple moving average of $78.89. The stock has a market cap of $17.02 billion, a PE ratio of 53.24, a price-to-earnings-growth ratio of 3.47 and a beta of 0.77.

UL Solutions (NYSE:ULS) last released its earnings results on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The firm had revenue of $789.00 million for the quarter, compared to analyst estimates of $782.37 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Research analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s payout ratio is 36.48%.

Analyst Ratings Changes

ULS has been the subject of several recent analyst reports. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Wells Fargo & Company boosted their price target on shares of UL Solutions from $97.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, February 20th. UBS Group upped their price objective on shares of UL Solutions from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a research note on Friday, February 20th. Finally, Bank of America boosted their target price on UL Solutions to $86.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, UL Solutions currently has an average rating of “Hold” and a consensus price target of $87.60.

Institutional Investors Weigh In On UL Solutions

Several large investors have recently made changes to their positions in ULS. Pacer Advisors Inc. acquired a new stake in shares of UL Solutions during the fourth quarter worth $715,000. Arrow Capital Management LLC bought a new position in UL Solutions during the 4th quarter worth about $5,773,000. T. Rowe Price Investment Management Inc. increased its holdings in UL Solutions by 10.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock worth $463,618,000 after purchasing an additional 545,528 shares in the last quarter. Invesco Ltd. raised its stake in shares of UL Solutions by 399.2% in the 4th quarter. Invesco Ltd. now owns 124,396 shares of the company’s stock valued at $9,810,000 after purchasing an additional 99,478 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of UL Solutions in the 4th quarter valued at about $1,644,000.

UL Solutions Company 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.