Key Points
- UL Solutions EVP Alberto Uggetti sold 6,100 shares on May 11 at an average price of $100 each, totaling $610,000. After the sale, he still owned 10,307 shares, representing a 37.18% reduction in his stake.
- The company reported stronger-than-expected quarterly results, with EPS of $0.50 versus the $0.42 estimate and revenue of $758 million versus $748.5 million expected. Revenue rose 7.5% year over year.
- UL Solutions has seen supportive analyst and investor activity, including a dividend increase to $0.145 per quarter and several positive rating changes, with the stock carrying a consensus “Moderate Buy” and an average price target of $101.54.
UL Solutions Inc. (NYSE:ULS - Get Free Report) EVP Alberto Uggetti sold 6,100 shares of UL Solutions stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $100.00, for a total transaction of $610,000.00. Following the transaction, the executive vice president directly owned 10,307 shares of the company's stock, valued at approximately $1,030,700. This trade represents a 37.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
UL Solutions Trading Up 1.7%
Shares of NYSE ULS opened at $98.87 on Thursday. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The stock has a market cap of $19.88 billion, a P/E ratio of 57.82, a price-to-earnings-growth ratio of 3.78 and a beta of 0.59. The firm has a 50-day moving average of $87.83 and a 200 day moving average of $82.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16.
UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.08. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The company had revenue of $758.00 million during the quarter, compared to analysts' expectations of $748.50 million. During the same period last year, the company posted $0.37 EPS. UL Solutions's revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts expect that UL Solutions Inc. will post 2.1 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. Shareholders of record on Monday, March 2nd were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 0.6%. This is a boost from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Monday, March 2nd. UL Solutions's dividend payout ratio is presently 33.92%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in ULS. Ghisallo Capital Management LLC raised its holdings in shares of UL Solutions by 1,299.3% during the fourth quarter. Ghisallo Capital Management LLC now owns 1,399,273 shares of the company's stock valued at $110,347,000 after purchasing an additional 1,299,273 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of UL Solutions by 21.9% during the fourth quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company's stock valued at $531,567,000 after purchasing an additional 1,213,188 shares during the last quarter. State Street Corp raised its holdings in shares of UL Solutions by 272.1% during the fourth quarter. State Street Corp now owns 1,460,723 shares of the company's stock valued at $115,193,000 after purchasing an additional 1,068,194 shares during the last quarter. Norges Bank purchased a new position in shares of UL Solutions during the fourth quarter valued at approximately $72,719,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of UL Solutions during the fourth quarter valued at approximately $69,002,000.
Analyst Ratings Changes
Several brokerages have issued reports on ULS. Weiss Ratings raised shares of UL Solutions from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, May 8th. Raymond James Financial reaffirmed an "outperform" rating and issued a $115.00 target price on shares of UL Solutions in a report on Wednesday, May 6th. Zacks Research raised shares of UL Solutions from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 14th. Robert W. Baird decreased their target price on shares of UL Solutions from $97.00 to $96.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Finally, Bank of America lifted their target price on shares of UL Solutions to $86.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $101.54.
Get Our Latest Analysis on UL Solutions
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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