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

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

Analyst Ratings Changes

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

Insider Transactions at UL Solutions

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

Hedge Funds Weigh In On UL Solutions

Several hedge funds and other institutional investors have recently modified their holdings of ULS. Stone House Investment Management LLC bought a new position in UL Solutions in the third quarter worth $25,000. EverSource Wealth Advisors LLC bought a new position in shares of UL Solutions in the 2nd quarter worth about $29,000. Northwest & Ethical Investments L.P. purchased a new position in UL Solutions during the 3rd quarter valued at about $84,000. Sunbelt Securities Inc. bought a new stake in UL Solutions during the second quarter worth about $72,000. Finally, Daiwa Securities Group Inc. purchased a new stake in UL Solutions in the second quarter worth about $84,000.

UL Solutions Price Performance

NYSE:ULS traded down $0.71 during mid-day trading on Friday, reaching $50.41. 976,909 shares of the company’s stock traded hands, compared to its average volume of 728,973. UL Solutions has a 12-month low of $33.15 and a 12-month 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 company has a 50 day moving average price of $51.99 and a 200-day moving average price of $49.45.

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

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Friday, November 29th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, November 29th.

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.