UL Solutions (NYSE:ULS) Stock: Insider Jennifer Scanlon Sells 12,500 Shares

UL Solutions Inc. (NYSE:ULS) CEO Jennifer Scanlon sold 12,500 shares of the stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $70.08, for a total value of $876,000.00. Following the sale, the chief executive officer directly owned 126,724 shares of the company’s stock, valued at $8,880,817.92. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

UL Solutions Stock Performance

Shares of NYSE:ULS traded down $0.65 during trading on Friday, reaching $70.00. The company had a trading volume of 748,419 shares, compared to its average volume of 1,242,830. UL Solutions Inc. has a fifty-two week low of $63.17 and a fifty-two week high of $107.54. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The stock’s fifty day moving average price is $72.13 and its 200 day moving average price is $85.46. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 2.93 and a beta of 0.72.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $816.00 million during the quarter, compared to the consensus estimate of $813.62 million. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. As a group, equities research analysts predict that UL Solutions Inc. will post 2.08 EPS for the current year.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were paid a dividend of $0.1450 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 31st. UL Solutions’s payout ratio is 23.48%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of UL Solutions by 10.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock worth $463,618,000 after acquiring an additional 545,528 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in UL Solutions during the fourth quarter worth approximately $35,109,000. Ranger Investment Management L.P. purchased a new position in UL Solutions during the second quarter worth approximately $42,598,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of UL Solutions by 12.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,744,523 shares of the company’s stock valued at $147,534,000 after purchasing an additional 193,610 shares during the last quarter. Finally, Fenimore Asset Management Inc purchased a new stake in shares of UL Solutions during the 3rd quarter valued at $11,664,000.

Wall Street Analysts Forecast Growth

ULS has been the topic of a number of analyst reports. Zacks Research lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Citigroup reduced their price target on UL Solutions from $106.40 to $82.80 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Weiss Ratings downgraded UL Solutions from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. William Blair reaffirmed an “outperform” rating on shares of UL Solutions in a report on Monday, September 21st. Finally, UBS Group cut their price objective on UL Solutions from $110.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, UL Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $95.78.

UL Solutions Company Profile

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that helps organizations assess and manage safety, security, sustainability and performance risks. The company provides testing, inspection and certification services, along with advisory and software solutions, for products, facilities, systems and supply chains.

Its services support a broad range of industries, including consumer products, industrial equipment, energy, mobility, information technology and the built environment.