Truist Financial Corp Decreases Stake in UL Solutions Inc. $ULS

Truist Financial Corp reduced its stake in UL Solutions Inc. (NYSE:ULS) by 13.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,266 shares of the company’s stock after selling 9,203 shares during the period. Truist Financial Corp’s holdings in UL Solutions were worth $4,674,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ULS. Vanguard Group Inc. increased its stake in UL Solutions by 21.9% in the 4th quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock worth $531,567,000 after purchasing an additional 1,213,188 shares during the period. Capital International Investors increased its stake in UL Solutions by 10.8% in the 3rd quarter. Capital International Investors now owns 7,548,311 shares of the company’s stock worth $534,738,000 after purchasing an additional 738,720 shares during the period. Capital Research Global Investors increased its stake in UL Solutions by 20.6% in the 3rd quarter. Capital Research Global Investors now owns 3,942,905 shares of the company’s stock worth $279,394,000 after purchasing an additional 674,088 shares during the period. Envestnet Asset Management Inc. increased its stake in UL Solutions by 405.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock worth $42,054,000 after purchasing an additional 476,121 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of UL Solutions by 57.3% during the third quarter. First Trust Advisors LP now owns 1,137,364 shares of the company’s stock valued at $80,594,000 after buying an additional 414,363 shares during the period.

UL Solutions Trading Up 0.0%

NYSE ULS opened at $100.47 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. UL Solutions Inc. has a twelve month low of $61.64 and a twelve month high of $107.54. The firm has a market capitalization of $20.20 billion, a PE ratio of 58.75, a P/E/G ratio of 4.06 and a beta of 0.59. The stock’s 50 day moving average is $86.62 and its 200 day moving average is $81.81.

UL Solutions (NYSE:ULS) last released its quarterly 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. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. During the same period in the previous year, the company posted $0.37 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. Research analysts forecast that UL Solutions Inc. will post 2.02 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

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

Insider Buying and Selling at UL Solutions

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of UL Solutions stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $91.57, for a total transaction of $1,144,625.00. Following the sale, the chief executive officer directly owned 188,274 shares in the company, valued at $17,240,250.18. The trade was a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ULS has been the topic of several research analyst reports. 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. JPMorgan Chase & Co. boosted their target price on UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday. UBS Group boosted their target price on UL Solutions from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Weiss Ratings raised UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, Robert W. Baird reduced their target price 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 investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.54.

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.