UL Solutions (NYSE:ULS) Shares Down 9.2% – Here’s What Happened

UL Solutions Inc. (NYSE:ULSGet Free Report) shares dropped 9.2% on Tuesday . The stock traded as low as $83.63 and last traded at $82.7180. 143,174 shares traded hands during trading, a decline of 85% from the average session volume of 927,823 shares. The stock had previously closed at $91.05.

Wall Street Analyst Weigh In

Several equities analysts have commented on ULS shares. BNP Paribas Exane assumed coverage on shares of UL Solutions in a report on Monday, April 20th. They issued a “neutral” rating and a $95.00 target price on the stock. UBS Group raised shares of UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a report on Tuesday, July 14th. Raymond James Financial reiterated an “outperform” rating and set a $115.00 price target on shares of UL Solutions in a research report on Wednesday, May 6th. Telsey Advisory Group set a $100.00 price objective on shares of UL Solutions in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, UL Solutions has an average rating of “Moderate Buy” and a consensus price target of $101.54.

Get Our Latest Stock Report on UL Solutions

UL Solutions Stock Performance

The stock has a market cap of $16.07 billion, a price-to-earnings ratio of 46.93, a P/E/G ratio of 3.52 and a beta of 0.71. 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 simple moving average of $93.38 and a 200 day simple moving average of $87.33.

UL Solutions (NYSE:ULSGet Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $816.00 million for the quarter, compared to the consensus estimate of $813.62 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. As a group, equities research analysts forecast that UL Solutions Inc. will post 2.13 EPS for the current year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were paid a $0.145 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.58 annualized dividend and a yield of 0.7%. UL Solutions’s dividend payout ratio is presently 33.92%.

Insider Transactions at UL Solutions

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $99.22, for a total value of $1,240,250.00. Following the completion of the transaction, the chief executive officer directly owned 164,224 shares in the company, valued at approximately $16,294,305.28. This represents a 7.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alberto Uggetti sold 6,100 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $100.00, for a total value of $610,000.00. Following the sale, the executive vice president directly owned 10,307 shares in the company, valued at approximately $1,030,700. This trade represents a 37.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 53,205 shares of company stock valued at $5,315,675. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On UL Solutions

Several large investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in shares of UL Solutions by 349.3% during the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after purchasing an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after buying an additional 614 shares during the period. Rhumbline Advisers acquired a new position in shares of UL Solutions in the first quarter valued at approximately $49,000. CIBC Private Wealth Group LLC raised its holdings in UL Solutions by 112.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after buying an additional 479 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in UL Solutions by 42.4% in the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock valued at $84,000 after buying an additional 245 shares during the last quarter.

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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