UL Solutions Inc. (NYSE:ULS) Sees Significant Decline in Short Interest

UL Solutions Inc. (NYSE:ULS) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 730,000 shares, a decrease of 57.3% from the September 30th total of 1,710,000 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 799,600 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Robert W. Baird upped their target price on UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Citigroup began coverage on shares of UL Solutions in a report on Monday, October 7th. They set a “buy” rating and a $60.00 price objective for the company. Baird R W cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Wells Fargo & Company raised their price target on shares of UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group increased their target price on UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.80.

UL Solutions Stock Up 0.1 %

ULS stock opened at $52.97 on Monday. The company’s fifty day simple moving average is $51.50. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.00. UL Solutions has a fifty-two week low of $33.15 and a fifty-two week high of $56.28.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.44 earnings per share (EPS) 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 analyst estimates of $718.73 million. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts anticipate that UL Solutions will post 1.48 EPS for the current year.

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Friday, August 30th.

Insider Activity

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction dated 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 is available through the SEC website.

Institutional Investors Weigh In On UL Solutions

Several hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale grew its holdings in shares of UL Solutions by 19.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company’s stock valued at $36,805,000 after buying an additional 122,975 shares during the period. Fortis Group Advisors LLC bought a new stake in shares of UL Solutions in the third quarter worth about $349,000. Raymond James & Associates raised its position in shares of UL Solutions by 2.4% during the third quarter. Raymond James & Associates now owns 220,609 shares of the company’s stock worth $10,876,000 after purchasing an additional 5,177 shares during the period. Seven Grand Managers LLC grew its position in shares of UL Solutions by 150.0% in the 3rd quarter. Seven Grand Managers LLC now owns 250,000 shares of the company’s stock valued at $12,325,000 after purchasing an additional 150,000 shares during the period. Finally, Renaissance Capital LLC grew its position in shares of UL Solutions by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 42,014 shares of the company’s stock valued at $2,071,000 after purchasing an additional 7,015 shares during the period.

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.