Truist Financial Corp Sells 9,203 Shares of UL Solutions Inc. $ULS

Truist Financial Corp trimmed its stake in UL Solutions Inc. (NYSE:ULS) by 13.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,266 shares of the company’s stock after selling 9,203 shares during the quarter. Truist Financial Corp’s holdings in UL Solutions were worth $4,674,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ULS. Vanguard Group Inc. boosted its holdings in UL Solutions by 21.9% in the fourth quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock worth $531,567,000 after acquiring an additional 1,213,188 shares in the last quarter. Capital International Investors boosted its holdings in UL Solutions by 10.8% in the third quarter. Capital International Investors now owns 7,548,311 shares of the company’s stock worth $534,738,000 after acquiring an additional 738,720 shares in the last quarter. Capital Research Global Investors boosted its holdings in UL Solutions by 20.6% in the third quarter. Capital Research Global Investors now owns 3,942,905 shares of the company’s stock worth $279,394,000 after acquiring an additional 674,088 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in UL Solutions by 405.7% in the third quarter. Envestnet Asset Management Inc. now owns 593,484 shares of the company’s stock worth $42,054,000 after acquiring an additional 476,121 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in UL Solutions by 57.3% in the third quarter. First Trust Advisors LP now owns 1,137,364 shares of the company’s stock worth $80,594,000 after acquiring an additional 414,363 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group boosted their target price on UL Solutions from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. BNP Paribas Exane assumed coverage on UL Solutions in a report on Monday, April 20th. They issued a “neutral” rating and a $95.00 target price on the stock. Citigroup boosted their target price on UL Solutions from $87.80 to $106.40 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a report on Wednesday. Finally, Telsey Advisory Group set a $100.00 price target on UL Solutions in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, UL Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $101.54.

UL Solutions Stock Performance

Shares of NYSE ULS opened at $100.47 on Monday. The firm’s 50-day moving average price is $86.62 and its 200-day moving average price is $81.81. 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 market cap of $20.20 billion, a PE ratio of 58.75, a PEG ratio of 4.06 and a beta of 0.59. UL Solutions Inc. has a 52-week low of $61.64 and a 52-week high of $107.54.

UL Solutions (NYSE:ULS) last announced 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. The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. As a group, analysts anticipate that UL Solutions Inc. will post 2.02 EPS for the current year.

UL Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 2nd. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s payout ratio is 33.92%.

Insider Activity

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $91.57, for a total transaction of $1,144,625.00. Following the sale, the chief executive officer owned 188,274 shares of the company’s stock, valued at $17,240,250.18. This trade represents a 6.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.

UL Solutions Company Profile

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.