Electron Capital Partners LLC Sells 141,498 Shares of UL Solutions Inc. $ULS

Electron Capital Partners LLC reduced its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 16.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 713,941 shares of the company’s stock after selling 141,498 shares during the quarter. UL Solutions makes up 2.4% of Electron Capital Partners LLC’s investment portfolio, making the stock its 10th largest position. Electron Capital Partners LLC owned approximately 0.35% of UL Solutions worth $61,192,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Advisor OS LLC grew its position in shares of UL Solutions by 4.4% in 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 during the last quarter. Cresset Asset Management LLC lifted its stake in UL Solutions by 4.0% in the 2nd quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock valued at $304,000 after buying an additional 159 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in UL Solutions by 1.3% during 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 during the last quarter. Deutsche Bank AG grew its holdings 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 last quarter. Finally, Parallel Advisors LLC increased its position in UL Solutions by 349.3% during the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after buying an additional 234 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have recently weighed in on ULS. Wall Street Zen cut UL Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company lifted their price objective on UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a research note on Wednesday, May 6th. BNP Paribas Exane began 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. Finally, JPMorgan Chase & Co. raised their price objective on UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.54.

UL Solutions Trading Up 5.5%

Shares of ULS opened at $90.15 on Tuesday. The stock has a market cap of $18.17 billion, a PE ratio of 52.72, a P/E/G ratio of 3.27 and a beta of 0.63. UL Solutions Inc. has a 12 month low of $61.64 and a 12 month high of $107.54. The stock’s 50-day moving average is $94.40 and its two-hundred day moving average is $87.01. 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) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $748.50 million. During the same quarter last year, the company earned $0.37 earnings per share. UL Solutions’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts forecast that UL Solutions Inc. will post 2.13 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s dividend payout ratio is presently 33.92%.

Insider Activity at UL Solutions

In related news, insider Gitte Schjotz sold 9,865 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $96.98, for a total value of $956,707.70. Following the transaction, the insider owned 59,341 shares in the company, valued at approximately $5,754,890.18. The trade was a 14.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Friedrich Hecker sold 4,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $102.04, for a total value of $408,160.00. Following the completion of the transaction, the director directly owned 13,180 shares of the company’s stock, valued at $1,344,887.20. This represents a 23.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 65,705 shares of company stock valued at $6,460,300. 1.20% of the stock is currently owned by insiders.

UL Solutions 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.