Insider Selling: UL Solutions (NYSE:ULS) Insider Sells 12,015 Shares of Stock

UL Solutions Inc. (NYSE:ULS) insider Gitte Schjotz sold 12,015 shares of UL Solutions stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $99.71, for a total value of $1,198,015.65. Following the sale, the insider directly owned 69,206 shares of the company’s stock, valued at approximately $6,900,530.26. The trade was a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Gitte Schjotz also recently made the following trade(s):

• On Wednesday, June 3rd, Gitte Schjotz sold 9,865 shares of UL Solutions stock. The shares were sold at an average price of $96.98, for a total value of $956,707.70.
• On Thursday, May 7th, Gitte Schjotz sold 8,000 shares of UL Solutions stock. The shares were sold at an average price of $103.96, for a total value of $831,680.00.

UL Solutions Stock Up 1.4%

NYSE ULS traded up $1.36 during trading on Thursday, hitting $99.39. 551,412 shares of the company traded hands, compared to its average volume of 883,411. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The business has a fifty day simple moving average of $92.96 and a 200 day simple moving average of $84.22. 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 company has a market capitalization of $20.03 billion, a P/E ratio of 58.12, a PEG ratio of 3.80 and a beta of 0.63.

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

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Friday, May 29th will be paid a $0.145 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. UL Solutions’s payout ratio is presently 33.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ULS. Royal Bank of Canada boosted its holdings in shares of UL Solutions by 119.5% in the 1st quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock worth $8,090,000 after acquiring an additional 78,081 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in UL Solutions by 104.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock worth $25,953,000 after buying an additional 234,913 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in UL Solutions by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock worth $6,981,000 after buying an additional 13,205 shares in the last quarter. Rhumbline Advisers acquired a new position in UL Solutions during the 1st quarter worth $49,000. Finally, Creative Planning acquired a new position in UL Solutions during the 2nd quarter worth $208,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a research note on Wednesday, May 6th. Wall Street Zen upgraded UL Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Bank of America lifted their price objective on UL Solutions to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Wells Fargo & Company boosted their price target on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird lowered their price target on 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 equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, UL Solutions currently has a consensus 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.