Gitte Schjotz Sells 7,000 Shares of UL Solutions Inc. (NYSE:ULS) Stock

UL Solutions Inc. (NYSE:ULS) insider Gitte Schjotz sold 7,000 shares of UL Solutions stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. Following the sale, the insider now owns 46,889 shares in the company, valued at $3,162,194.16. This trade represents a 12.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

UL Solutions Trading Down 0.6 %

UL Solutions stock opened at $70.09 on Friday. The stock has a market cap of $14.03 billion and a PE ratio of 43.27. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average price of $56.12 and a 200 day moving average price of $53.68. UL Solutions Inc. has a 52 week low of $36.51 and a 52 week high of $71.89.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $705.00 million during the quarter, compared to the consensus estimate of $704.19 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. UL Solutions’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts predict that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is currently 31.14%.

Analyst Ratings Changes

ULS has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of UL Solutions from $65.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird boosted their price target on UL Solutions from $60.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group increased their price objective on UL Solutions from $58.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup boosted their target price on UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. increased their price target on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $67.93.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in UL Solutions in the fourth quarter valued at approximately $32,000. PNC Financial Services Group Inc. increased its holdings in shares of UL Solutions by 653.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company’s stock worth $33,000 after buying an additional 582 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of UL Solutions in the 1st quarter worth $49,000. Northwest & Ethical Investments L.P. grew its position in UL Solutions by 23.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company’s stock valued at $105,000 after acquiring an additional 400 shares during the period. Finally, KBC Group NV acquired a new stake in UL Solutions during the fourth quarter worth about $163,000.

UL Solutions Company Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.