Weiss Asset Management LP Purchases New Stake in UL Solutions Inc. $ULS

Weiss Asset Management LP purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 34,965 shares of the company’s stock, valued at approximately $2,997,000.

A number of other large investors also recently modified their holdings of ULS. Advisor OS LLC raised its stake in shares of UL Solutions by 4.4% during the fourth quarter. Advisor OS LLC now owns 3,477 shares of the company’s stock valued at $274,000 after purchasing an additional 147 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in UL Solutions by 4.0% in the second quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock worth $304,000 after purchasing an additional 159 shares during the period. Daiwa Securities Group Inc. grew its position in UL Solutions by 1.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 15,155 shares of the company’s stock valued at $1,195,000 after buying an additional 194 shares in the last quarter. Deutsche Bank AG increased its stake in UL Solutions by 6.0% during the 4th quarter. Deutsche Bank AG now owns 3,677 shares of the company’s stock valued at $290,000 after buying an additional 207 shares during the period. Finally, Parallel Advisors LLC increased its stake in UL Solutions by 349.3% during the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after buying an additional 234 shares during the period.

Insiders Place Their Bets

In other news, EVP Alberto Uggetti sold 6,100 shares of UL Solutions stock in a transaction that occurred 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 transaction, the executive vice president directly owned 10,307 shares of the company’s stock, valued at $1,030,700. This trade represents a 37.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Friedrich Hecker sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $102.04, for a total transaction of $408,160.00. Following the completion of the sale, the director owned 13,180 shares of the company’s stock, valued at approximately $1,344,887.20. This trade represents a 23.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 65,705 shares of company stock valued at $6,460,300 over the last 90 days. 1.20% of the stock is owned by corporate insiders.

UL Solutions Trading Up 0.2%

Shares of NYSE ULS opened at $85.60 on Monday. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The company has a market cap of $17.25 billion, a price-to-earnings ratio of 50.06, a P/E/G ratio of 3.27 and a beta of 0.63. 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 business has a fifty day simple moving average of $94.57 and a 200-day simple moving average of $86.97.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $758.00 million during the quarter, compared to analyst estimates of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.UL Solutions’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $0.37 EPS. Sell-side analysts predict that UL Solutions Inc. will post 2.13 EPS for the current year.

UL Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ULS shares. 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 price target for the company. 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. Wall Street Zen downgraded UL Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup increased their price target on UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research cut UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

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.