Insider Selling: UL Solutions (NYSE:ULS) Insider Sells 12,015 Shares of Stock
by Jessica Moore · The Cerbat GemUL Solutions Inc. (NYSE:ULS – Get Free Report) insider Gitte Schjotz sold 12,015 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $99.71, for a total value of $1,198,015.65. Following the transaction, the insider directly owned 69,206 shares in the company, valued at approximately $6,900,530.26. This represents a 14.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Gitte Schjotz also recently made the following trade(s):
- On Wednesday, June 3rd, Gitte Schjotz sold 9,865 shares of UL Solutions stock. The stock was sold at an average price of $96.98, for a total value of $956,707.70.
- On Thursday, May 7th, Gitte Schjotz sold 8,000 shares of UL Solutions stock. The shares were sold at an average price of $103.96, for a total transaction of $831,680.00.
UL Solutions Trading Up 1.4%
Shares of UL Solutions stock traded up $1.36 on Thursday, hitting $99.39. 551,412 shares of the company’s stock traded hands, compared to its average volume of 883,411. The firm’s 50-day moving average price is $92.96 and its two-hundred day moving average price is $84.22. The stock has a market capitalization of $20.03 billion, a PE ratio of 58.12, a price-to-earnings-growth ratio of 3.80 and a beta of 0.63. UL Solutions Inc. has a one year low of $61.64 and a one year high of $107.54. 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 – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.42 by $0.08. The company had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. On average, research analysts expect that UL Solutions Inc. will post 2.1 EPS for the current fiscal year.
UL Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Friday, May 29th will be given a dividend of $0.145 per share. The ex-dividend date is Friday, May 29th. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. UL Solutions’s payout ratio is presently 33.92%.
Hedge Funds Weigh In On UL Solutions
A number of large investors have recently added to or reduced their stakes in ULS. Royal Bank of Canada increased its holdings in UL Solutions by 119.5% during the 1st quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock worth $8,090,000 after purchasing an additional 78,081 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in UL Solutions by 104.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock worth $25,953,000 after purchasing an additional 234,913 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of UL Solutions by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock worth $6,981,000 after buying an additional 13,205 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of UL Solutions during the 1st quarter worth about $49,000. Finally, Creative Planning acquired a new position in shares of UL Solutions during the 2nd quarter worth about $208,000.
Wall Street Analyst Weigh In
A number of analysts recently commented on ULS shares. Telsey Advisory Group set a $100.00 price objective on shares of UL Solutions in a research report on Wednesday, May 6th. Zacks Research upgraded shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. 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 upped their price objective on shares of UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.54.
Check Out Our Latest Analysis on UL Solutions
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.
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