UL Solutions Inc. (NYSE:ULS - Get Free Report) CEO Jennifer Scanlon sold 12,500 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $91.57, for a total value of $1,144,625.00. Following the completion of the sale, the chief executive officer owned 188,274 shares in the company, valued at approximately $17,240,250.18. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
UL Solutions Stock Up 1.3%
UL Solutions stock opened at $91.65 on Friday. UL Solutions Inc. has a 1-year low of $58.78 and a 1-year high of $94.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market cap of $18.42 billion, a PE ratio of 57.64, a P/E/G ratio of 3.66 and a beta of 0.59. The stock's fifty day moving average is $85.22 and its two-hundred day moving average is $81.16.
UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.07. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The company had revenue of $789.00 million for the quarter, compared to analysts' expectations of $782.37 million. During the same period last year, the firm earned $0.49 earnings per share. UL Solutions's quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that UL Solutions Inc. will post 2.02 EPS for the current fiscal year.
UL Solutions Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date was Monday, March 2nd. UL Solutions's payout ratio is presently 36.48%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Robert W. Baird cut their target price on UL Solutions from $97.00 to $96.00 and set an "outperform" rating on the stock in a research report on Friday, February 20th. BNP Paribas Exane assumed coverage on UL Solutions in a research report on Monday, April 20th. They set a "neutral" rating and a $95.00 target price on the stock. The Goldman Sachs Group reiterated a "neutral" rating on shares of UL Solutions in a research report on Friday, February 20th. Wells Fargo & Company lifted their target price on UL Solutions from $97.00 to $102.00 and gave the stock an "overweight" rating in a research report on Friday, February 20th. Finally, Bank of America lifted their target price on UL Solutions to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.42.
Check Out Our Latest Stock Report on UL Solutions
Hedge Funds Weigh In On UL Solutions
Institutional investors have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC acquired a new position in UL Solutions in the 3rd quarter valued at about $1,681,000. Allspring Global Investments Holdings LLC increased its position in UL Solutions by 12.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company's stock valued at $125,484,000 after acquiring an additional 167,564 shares during the period. Envestnet Asset Management Inc. increased its position in UL Solutions by 405.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company's stock valued at $42,054,000 after acquiring an additional 476,121 shares during the period. Rakuten Investment Management Inc. acquired a new position in UL Solutions in the 3rd quarter valued at about $1,436,000. Finally, Federated Hermes Inc. increased its position in UL Solutions by 25.0% in the 3rd quarter. Federated Hermes Inc. now owns 821,596 shares of the company's stock valued at $58,218,000 after acquiring an additional 164,396 shares during the period.
UL Solutions Company Profile
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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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