UL Solutions Inc. (NYSE:ULS) Sees Large Decrease in Short Interest

UL Solutions Inc. (NYSE:ULS) saw a significant drop in short interest in 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. Based on an average daily volume of 701,000 shares, the short-interest ratio is currently 1.6 days. Approximately 1.8% of the company’s shares are sold short.

Insiders Place Their Bets

In other news, insider Gitte Schjotz sold 5,941 shares of UL Solutions stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $52.58, for a total value of $312,377.78. Following the transaction, the insider now directly owns 69,191 shares of the company’s stock, valued at $3,638,062.78. The trade was a 7.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Institutional Trading of UL Solutions

A number of institutional investors and hedge funds have recently modified their holdings of ULS. Bank of New York Mellon Corp acquired a new position in shares of UL Solutions in the 2nd quarter valued at about $586,000. Lisanti Capital Growth LLC bought a new position in shares of UL Solutions during the second quarter valued at approximately $4,793,000. Markel Group Inc. acquired a new stake in shares of UL Solutions during the 2nd quarter worth approximately $1,519,000. TD Asset Management Inc bought a new stake in shares of UL Solutions in the 2nd quarter worth approximately $5,500,000. Finally, Victory Capital Management Inc. acquired a new position in UL Solutions during the 2nd quarter valued at approximately $208,000.

UL Solutions Stock 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. UL Solutions has a one year low of $33.15 and a one year high of $59.23. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The stock’s fifty day moving average price is $51.99 and its 200-day moving average price is $49.51.

UL Solutions (NYSE:ULS) last issued its earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. The business had revenue of $731.00 million for the quarter, compared to analyst estimates of $709.41 million. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that UL Solutions will post 1.53 EPS for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Friday, November 29th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, November 29th.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ULS. The Goldman Sachs Group lifted their price target on shares of UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped their price target on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Citigroup initiated coverage on UL Solutions in a research report on Monday, October 7th. They issued a “buy” rating and a $60.00 price objective on the stock. Robert W. Baird upped their target price on UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, UBS Group raised their target price on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

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.