Short Interest in UL Solutions Inc. (NYSE:ULS) Declines By 57.3%

UL Solutions Inc. (NYSE:ULS) saw a large decrease in short interest in 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. Approximately 1.9% of the shares of the stock are short sold. Based on an average trading volume of 799,600 shares, the short-interest ratio is presently 0.9 days.

Insider Activity at UL Solutions

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC purchased a new position in UL Solutions in the second quarter valued at $29,000. Sunbelt Securities Inc. purchased a new stake in shares of UL Solutions in the 2nd quarter valued at approximately $72,000. Daiwa Securities Group Inc. acquired a new stake in shares of UL Solutions in the 2nd quarter valued at $84,000. TFC Financial Management Inc. purchased a new stake in shares of UL Solutions during the 2nd quarter worth $88,000. Finally, Bellecapital International Ltd. acquired a new position in shares of UL Solutions during the second quarter worth $208,000.

UL Solutions Stock Up 0.1 %

UL Solutions stock traded up $0.06 during trading on Friday, hitting $52.97. The company had a trading volume of 290,140 shares, compared to its average volume of 747,167. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29. The company has a 50 day simple moving average of $51.50. UL Solutions has a 1-year low of $33.15 and a 1-year high of $56.28.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. The firm had revenue of $730.00 million during the quarter, compared to analyst estimates of $718.73 million. The firm’s revenue was up 6.0% compared to the same quarter last year. Research analysts expect that UL Solutions will post 1.46 earnings per share for the current year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 0.94%.

Analysts Set New Price Targets

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

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.