Key Points
- CEO Jennifer Scanlon sold 12,500 shares of UL Solutions on April 1 at an average price of $85.50 for proceeds of $1,068,750, cutting her stake by 5.86% to 200,774 shares; the sale was executed under a pre-arranged Rule 10b5-1 trading plan.
- UL Solutions recently beat quarterly estimates (EPS $0.53 vs. $0.46; revenue $789M, up 6.8% YoY), raised its quarterly dividend to $0.145 (annualized $0.58, yield ~0.7%), and trades with a market cap around $17.0B and an average analyst price target near $87.60 amid mixed Buy/Hold ratings.
UL Solutions Inc. (NYSE:ULS - Get Free Report) CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $85.50, for a total transaction of $1,068,750.00. Following the sale, the chief executive officer owned 200,774 shares in the company, valued at $17,166,177. This represents a 5.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
UL Solutions Trading Up 0.1%
NYSE ULS opened at $84.65 on Friday. The stock has a market cap of $17.02 billion, a P/E ratio of 53.24, a PEG ratio of 3.47 and a beta of 0.77. The company's fifty day simple moving average is $79.01 and its 200-day simple moving average is $78.80. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. UL Solutions Inc. has a 52 week low of $49.93 and a 52 week high of $91.95.
UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The firm had revenue of $789.00 million for the quarter, compared to the consensus estimate of $782.37 million. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm's quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.
UL Solutions Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were paid 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 0.7%. The ex-dividend date was Monday, March 2nd. UL Solutions's payout ratio is 36.48%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on ULS shares. Bank of America increased their price target on UL Solutions to $86.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Weiss Ratings downgraded UL Solutions from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, February 20th. Wells Fargo & Company upped their target price on UL Solutions from $97.00 to $102.00 and gave the company an "overweight" rating in a research report on Friday, February 20th. UBS Group increased their target price on UL Solutions from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, February 20th. Finally, Robert W. Baird decreased their price target on shares of UL Solutions from $97.00 to $96.00 and set an "outperform" rating for the company in a research report on Friday, February 20th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $87.60.
Check Out Our Latest Stock Analysis on UL Solutions
Institutional Trading of UL Solutions
Several hedge funds and other institutional investors have recently bought and sold shares of the company. TD Private Client Wealth LLC bought a new stake in shares of UL Solutions in the 3rd quarter valued at approximately $1,681,000. Envestnet Asset Management Inc. boosted its holdings in UL Solutions by 405.7% in the third 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. Allspring Global Investments Holdings LLC boosted its holdings in UL Solutions by 12.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company's stock worth $125,484,000 after purchasing an additional 167,564 shares during the period. Voya Investment Management LLC bought a new stake in UL Solutions during the third quarter valued at $24,627,000. Finally, Rakuten Investment Management Inc. bought a new stake in UL Solutions during the third quarter valued at $1,436,000.
About UL Solutions
(
Get Free Report)
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.
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