NewEdge Wealth LLC Decreases Stock Position in UL Solutions Inc. $ULS

NewEdge Wealth LLC trimmed its holdings in UL Solutions Inc. (NYSE:ULS) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,584 shares of the company’s stock after selling 7,968 shares during the period. NewEdge Wealth LLC’s holdings in UL Solutions were worth $4,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in shares of UL Solutions by 349.3% in the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after purchasing an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after purchasing an additional 614 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of UL Solutions during the 1st quarter worth approximately $49,000. CIBC Private Wealth Group LLC raised its position in shares of UL Solutions by 112.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock worth $71,000 after purchasing an additional 479 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in UL Solutions by 60.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock valued at $109,000 after buying an additional 519 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ULS. The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a research report on Wednesday, May 6th. Telsey Advisory Group set a $100.00 price target on UL Solutions in a report on Wednesday, May 6th. Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Wells Fargo & Company increased their price objective 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, Weiss Ratings upgraded UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, UL Solutions has an average rating of “Moderate Buy” and an average target price of $101.54.

Insider Buying and Selling

In other news, CAO Karen K. Pepping sold 725 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $97.74, for a total transaction of $70,861.50. Following the completion of the transaction, the chief accounting officer owned 8,082 shares of the company’s stock, valued at $789,934.68. This represents a 8.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alberto Uggetti sold 6,100 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $100.00, for a total transaction of $610,000.00. Following the transaction, the executive vice president owned 10,307 shares in the company, valued at approximately $1,030,700. The trade was a 37.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,705 shares of company stock worth $6,460,300 over the last ninety days. Insiders own 1.20% of the company’s stock.

UL Solutions Price Performance

ULS stock opened at $85.60 on Friday. UL Solutions Inc. has a 52-week low of $61.64 and a 52-week high of $107.54. The stock’s fifty day simple moving average is $94.57 and its 200-day simple moving average is $86.95. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $17.25 billion, a price-to-earnings ratio of 50.06, a price-to-earnings-growth ratio of 3.37 and a beta of 0.63.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The business had revenue of $758.00 million during the quarter, compared to the consensus estimate of $748.50 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts expect that UL Solutions Inc. will post 2.1 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were issued a $0.145 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.58 annualized dividend and a yield of 0.7%. UL Solutions’s payout ratio is 33.92%.

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.