Insider Selling: UL Solutions Inc. (NYSE:ULS) Major Shareholder Sells 3,000,000 Shares of Stock

UL Solutions Inc. (NYSE:ULS) major shareholder Ulse Inc. sold 3,000,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Ulse Inc. also recently made the following trade(s):

• On Monday, September 9th, Ulse Inc. sold 20,000,000 shares of UL Solutions stock. The shares were sold at an average price of $49.00, for a total value of $980,000,000.00.

UL Solutions Price Performance

Shares of UL Solutions stock opened at $49.50 on Friday. The business has a 50 day moving average of $50.10. UL Solutions Inc. has a 52 week low of $33.15 and a 52 week high of $56.28. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick ratio of 1.29.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.06. The firm had revenue of $730.00 million for the quarter, compared to analysts’ expectations of $718.73 million. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that UL Solutions Inc. will post 1.46 EPS for the current year.

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 1.01%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Baird R W downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Robert W. Baird boosted their price target on UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company raised their price objective on shares of UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.90.

Hedge Funds Weigh In On UL Solutions

Several institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new stake in shares of UL Solutions in the second quarter valued at $29,000. Sunbelt Securities Inc. purchased a new stake in UL Solutions in the 2nd quarter worth about $72,000. Daiwa Securities Group Inc. bought a new stake in UL Solutions in the 2nd quarter valued at about $84,000. TFC Financial Management Inc. purchased a new stake in UL Solutions during the second quarter valued at about $88,000. Finally, Bellecapital International Ltd. bought a new position in UL Solutions during the second quarter worth about $208,000.

About UL Solutions

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.