Key Points
- Insider sale: UL Solutions insider Gitte Schjotz sold 8,000 shares at an average price of $103.96, totaling about $831,680. After the transaction, she still owned 81,221 shares, reducing her stake by 8.97%.
- Strong quarterly results: The company reported Q1 earnings of $0.50 per share, beating estimates of $0.42, while revenue rose 7.5% year over year to $758 million. UL Solutions also posted solid profitability with a net margin of 11.24% and return on equity of 30.99%.
- Analyst and investor sentiment: Analysts have a Moderate Buy consensus with an average price target of $101.54, and several firms recently raised targets. Institutional investors also boosted positions significantly, including Vanguard, State Street, and Ghisallo Capital Management.
UL Solutions Inc. (NYSE:ULS - Get Free Report) insider Gitte Schjotz sold 8,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $103.96, for a total transaction of $831,680.00. Following the completion of the transaction, the insider directly owned 81,221 shares of the company's stock, valued at $8,443,735.16. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
UL Solutions Stock Performance
Shares of UL Solutions stock opened at $97.69 on Tuesday. The firm has a market capitalization of $19.64 billion, a P/E ratio of 57.13, a PEG ratio of 4.06 and a beta of 0.59. 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 company has a 50 day moving average price of $87.27 and a 200 day moving average price of $82.13. UL Solutions Inc. has a 52 week low of $61.64 and a 52 week high of $107.54.
UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.42 by $0.08. The firm had revenue of $758.00 million during the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. UL Solutions's revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. Sell-side analysts expect that UL Solutions Inc. will post 2.02 EPS for the current year.
UL Solutions Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's payout ratio is 33.92%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. UBS Group increased their price target on shares of UL Solutions from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Citigroup increased their price target on shares of UL Solutions from $87.80 to $106.40 and gave the stock a "neutral" rating in a report on Thursday. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price target on shares of UL Solutions in a report on Wednesday, May 6th. Bank of America increased their price target on shares of UL Solutions to $86.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Finally, Weiss Ratings upgraded shares of UL Solutions from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. One equities research 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $101.54.
Check Out Our Latest Research Report on UL Solutions
Institutional Investors Weigh In On UL Solutions
A number of hedge funds and other institutional investors have recently made changes to their positions in ULS. Ghisallo Capital Management LLC grew its stake in shares of UL Solutions by 1,299.3% during the 4th quarter. Ghisallo Capital Management LLC now owns 1,399,273 shares of the company's stock worth $110,347,000 after purchasing an additional 1,299,273 shares during the period. Vanguard Group Inc. grew its stake in shares of UL Solutions by 21.9% during 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. State Street Corp grew its stake in shares of UL Solutions by 272.1% during the 4th quarter. State Street Corp now owns 1,460,723 shares of the company's stock worth $115,193,000 after purchasing an additional 1,068,194 shares during the period. Norges Bank acquired a new stake in shares of UL Solutions during the 4th quarter worth approximately $72,719,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of UL Solutions during the 4th quarter worth approximately $69,002,000.
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.
Further Reading
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