UL Solutions Inc. (NYSE:ULS – Get Free Report) EVP Alberto Uggetti sold 6,100 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $100.00, for a total value of $610,000.00. Following the transaction, the executive vice president owned 10,307 shares in the company, valued at approximately $1,030,700. This represents a 37.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
UL Solutions Trading Down 1.6%
Shares of UL Solutions stock opened at $98.95 on Friday. The stock has a market cap of $19.94 billion, a P/E ratio of 57.87, a P/E/G ratio of 3.91 and a beta of 0.59. The stock’s 50 day simple moving average is $88.55 and its 200-day simple moving average is $82.66. UL Solutions Inc. has a 1-year low of $61.64 and a 1-year high of $107.54. 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 earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The business had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. Analysts predict that UL Solutions Inc. will post 2.1 EPS for the current fiscal year.
UL Solutions Increases Dividend
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. BNP Paribas Exane assumed coverage on UL Solutions in a report on Monday, April 20th. They set a “neutral” rating and a $95.00 target price on the stock. Wells Fargo & Company boosted their target price on UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Bank of America boosted their target price on UL Solutions to $86.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. upped their price objective on UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Robert W. Baird decreased their price objective on UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.54.
Get Our Latest Analysis on UL Solutions
Institutional Trading of UL Solutions
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC purchased a new stake in UL Solutions in the third quarter valued at approximately $1,681,000. Allspring Global Investments Holdings LLC raised its position in UL Solutions by 12.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company’s stock valued at $125,484,000 after purchasing an additional 167,564 shares during the period. Envestnet Asset Management Inc. raised its position in UL Solutions by 405.7% in the third quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock valued at $42,054,000 after purchasing an additional 476,121 shares during the period. Rakuten Investment Management Inc. purchased a new stake in UL Solutions in the third quarter valued at approximately $1,436,000. Finally, Truist Financial Corp raised its position in UL Solutions by 1,981.8% in the third quarter. Truist Financial Corp now owns 68,469 shares of the company’s stock valued at $4,852,000 after purchasing an additional 65,180 shares during the period.
About UL Solutions
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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