First Trust Advisors LP Decreases Stake in UL Solutions Inc. $ULS

First Trust Advisors LP lowered its holdings in UL Solutions Inc. (NYSE:ULS) by 14.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,213,171 shares of the company’s stock after selling 197,871 shares during the quarter. First Trust Advisors LP owned 0.60% of UL Solutions worth $103,981,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Ghisallo Capital Management LLC boosted its stake in shares of UL Solutions by 1,299.3% during the 4th 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 in the last quarter. Vanguard Group Inc. boosted its position in UL Solutions by 21.9% during the fourth quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock worth $531,567,000 after purchasing an additional 1,213,188 shares in the last quarter. State Street Corp grew its holdings in UL Solutions by 272.1% in the fourth 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 during the last quarter. Norges Bank acquired a new position in shares of UL Solutions during the 4th quarter worth $72,719,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of UL Solutions during the 4th quarter worth $69,002,000.

UL Solutions Price Performance

UL Solutions stock opened at $85.60 on Friday. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The firm has a 50 day moving average price of $94.57 and a 200 day moving average price of $86.95. The company has a market cap of $17.25 billion, a price-to-earnings ratio of 50.06, a PEG ratio of 3.37 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. Sell-side analysts predict that UL Solutions Inc. will post 2.1 earnings per share for the current year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a $0.145 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. UL Solutions’s dividend payout ratio is presently 33.92%.

Insiders Place Their Bets

In other UL Solutions news, CEO Jennifer F. Scanlon sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $99.22, for a total value of $1,240,250.00. Following the transaction, the chief executive officer directly owned 164,224 shares of the company’s stock, valued at $16,294,305.28. This trade represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alberto Uggetti sold 6,100 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $100.00, for a total value of $610,000.00. Following the transaction, the executive vice president owned 10,307 shares in the company, valued at approximately $1,030,700. This represents a 37.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 65,705 shares of company stock worth $6,460,300. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ULS has been the subject of a number of research reports. UBS Group upgraded shares of UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Tuesday, July 14th. Wall Street Zen cut UL Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James Financial restated an “outperform” rating and issued a $115.00 price objective on shares of UL Solutions in a research report on Wednesday, May 6th. Wells Fargo & Company increased their price objective on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, UL Solutions presently has an average 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.