UL Solutions Inc. (NYSE:ULS) Short Interest Update

UL Solutions Inc. (NYSE:ULS) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,110,000 shares, a drop of 34.3% from the November 30th total of 1,690,000 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average daily volume of 701,000 shares, the days-to-cover ratio is presently 1.6 days.

UL Solutions Price Performance

Shares of NYSE:ULS traded down $0.25 during midday trading on Monday, reaching $50.16. The company had a trading volume of 1,053,996 shares, compared to its average volume of 730,778. The company has a fifty day simple moving average of $51.99 and a two-hundred day simple moving average of $49.51. UL Solutions has a 1-year low of $33.15 and a 1-year high of $59.23. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85.

UL Solutions (NYSE:ULS) last announced its earnings results on Tuesday, November 5th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.39 by $0.10. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The company had revenue of $731.00 million during the quarter, compared to analysts’ expectations of $709.41 million. The firm’s revenue was up 8.1% on a year-over-year basis. Research analysts forecast that UL Solutions will post 1.53 earnings per share for the current year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Friday, November 29th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, November 29th.

Analysts Set New Price Targets

ULS has been the subject of several research analyst reports. The Goldman Sachs Group upped their price objective on shares of UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup began coverage on shares of UL Solutions in a research note on Monday, October 7th. They issued a “buy” rating and a $60.00 price target for the company. Robert W. Baird raised their price objective on shares of UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. UBS Group upped their target price on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their price target on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.00.

Insider Activity at UL Solutions

In other UL Solutions news, insider Gitte Schjotz sold 5,941 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $52.58, for a total transaction of $312,377.78. Following the completion of the transaction, the insider now owns 69,191 shares in the company, valued at approximately $3,638,062.78. The trade was a 7.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Trading of UL Solutions

A number of hedge funds have recently modified their holdings of the business. Stifel Financial Corp boosted its holdings in shares of UL Solutions by 1.6% during the third quarter. Stifel Financial Corp now owns 30,500 shares of the company’s stock worth $1,504,000 after purchasing an additional 485 shares during the period. Stone House Investment Management LLC purchased a new stake in UL Solutions in the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of UL Solutions during the 2nd quarter valued at $29,000. XTX Topco Ltd grew its holdings in shares of UL Solutions by 15.5% during the 3rd quarter. XTX Topco Ltd now owns 7,733 shares of the company’s stock valued at $381,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of UL Solutions in the third quarter worth $84,000.

UL Solutions Company Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.