UL Solutions Inc. $ULS Stake Lowered by Walleye Capital LLC

Walleye Capital LLC lessened its holdings in UL Solutions Inc. (NYSE:ULS) by 82.9% in the 1st quarter, Holdings Channel reports. The firm owned 2,991 shares of the company’s stock after selling 14,496 shares during the quarter. Walleye Capital LLC’s holdings in UL Solutions were worth $256,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of UL Solutions by 12.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,550,913 shares of the company’s stock worth $125,484,000 after acquiring an additional 167,564 shares during the period. Jefferies Financial Group Inc. raised its position in UL Solutions by 543.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 192,915 shares of the company’s stock worth $15,213,000 after purchasing an additional 162,915 shares in the last quarter. Legal & General Group Plc grew its position in UL Solutions by 78.6% in the fourth quarter. Legal & General Group Plc now owns 103,331 shares of the company’s stock valued at $8,149,000 after acquiring an additional 45,467 shares during the period. Thrivent Financial for Lutherans raised its stake in UL Solutions by 9,024.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 337,881 shares of the company’s stock worth $26,645,000 after acquiring an additional 334,178 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new position in shares of UL Solutions during the fourth quarter valued at $1,646,000.

UL Solutions Stock Down 1.2%

NYSE ULS opened at $85.60 on Friday. The stock has a market capitalization of $17.25 billion, a P/E ratio of 50.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.63. UL Solutions Inc. has a 52 week low of $61.64 and a 52 week high of $107.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a fifty day moving average of $94.57 and a 200-day moving average of $86.95.

UL Solutions (NYSE:ULS) last posted its quarterly earnings results 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. The business had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 earnings per share. On average, equities research analysts forecast that UL Solutions Inc. will post 2.13 EPS for the current year.

UL Solutions Dividend Announcement

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

Insider Buying and Selling

In other UL Solutions news, CAO Karen K. Pepping sold 725 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total value of $70,861.50. Following the completion of the sale, the chief accounting officer directly owned 8,082 shares in the company, valued at $789,934.68. This represents a 8.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alberto Uggetti sold 6,100 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $100.00, for a total value of $610,000.00. Following the sale, the executive vice president directly owned 10,307 shares of the company’s stock, valued at approximately $1,030,700. The trade was a 37.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,705 shares of company stock worth $6,460,300 over the last quarter. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings raised shares of UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 8th. BNP Paribas Exane assumed 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 for the company. Raymond James Financial reissued an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a report on Wednesday, May 6th. Finally, Wall Street Zen downgraded UL Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, UL Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $101.54.

UL Solutions Company 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.