NewEdge Wealth LLC Cuts Holdings in UL Solutions Inc. $ULS

NewEdge Wealth LLC lowered its position in UL Solutions Inc. (NYSE:ULS) by 13.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,584 shares of the company’s stock after selling 7,968 shares during the quarter. NewEdge Wealth LLC’s holdings in UL Solutions were worth $4,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Ghisallo Capital Management LLC increased its stake in 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 worth $110,347,000 after acquiring an additional 1,299,273 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of UL Solutions by 21.9% in the 4th 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 in the last quarter. State Street Corp lifted its stake in shares of UL Solutions by 272.1% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in shares of UL Solutions during the 4th quarter worth about $72,719,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of UL Solutions during the 4th quarter worth about $69,002,000.

Analyst Ratings Changes

A number of research firms recently issued reports on ULS. Telsey Advisory Group set a $100.00 target price on shares of UL Solutions in a research report on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 8th. Wells Fargo & Company increased their price objective on shares of UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, BNP Paribas Exane initiated coverage on shares of UL Solutions in a research note on Monday, April 20th. They issued a “neutral” rating and a $95.00 target price on the stock. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, UL Solutions has a consensus rating of “Moderate Buy” and an average price target of $101.54.

UL Solutions Stock Down 1.2%

NYSE ULS opened at $85.60 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. UL Solutions Inc. has a fifty-two week low of $61.64 and a fifty-two week high of $107.54. The business has a 50 day moving average price of $94.57 and a two-hundred day moving average price of $86.95. The stock has a market cap of $17.25 billion, a PE ratio of 50.06, a P/E/G ratio of 3.37 and a beta of 0.63.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $748.50 million. During the same quarter last year, the firm posted $0.37 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts predict that UL Solutions Inc. will post 2.1 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s dividend payout ratio (DPR) is presently 33.92%.

Insider Activity

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of UL Solutions stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $99.22, for a total transaction of $1,240,250.00. Following the sale, the chief executive officer owned 164,224 shares of the company’s stock, valued at $16,294,305.28. The trade was a 7.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alberto Uggetti sold 6,100 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $100.00, for a total transaction of $610,000.00. Following the completion of the transaction, the executive vice president owned 10,307 shares in the company, valued at $1,030,700. This represents a 37.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,705 shares of company stock worth $6,460,300 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

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.