UL Solutions Inc. (NYSE:ULS) Short Interest Update

UL Solutions Inc. (NYSE:ULS) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 319,700 shares, a decrease of 56.2% from the October 15th total of 730,000 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 842,100 shares, the days-to-cover ratio is presently 0.4 days.

Insiders Place Their Bets

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm’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 transaction of $147,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in shares of UL Solutions during the 3rd quarter valued at $3,723,000. Quantbot Technologies LP bought a new stake in UL Solutions during the third quarter valued at about $1,733,000. FMR LLC lifted its position in shares of UL Solutions by 6.9% in the third quarter. FMR LLC now owns 3,565,238 shares of the company’s stock valued at $175,766,000 after acquiring an additional 230,886 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of UL Solutions in the third quarter worth about $278,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of UL Solutions by 52.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 342,707 shares of the company’s stock worth $16,895,000 after purchasing an additional 117,794 shares in the last quarter.

Wall Street Analyst Weigh In

ULS has been the topic of several analyst reports. Robert W. Baird upped their target price on shares of UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their target price on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. UBS Group lifted their price objective on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Citigroup assumed coverage on shares of UL Solutions in a research note on Monday, October 7th. They set a “buy” rating and a $60.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, UL Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

UL Solutions Stock Up 1.0 %

Shares of ULS traded up $0.51 on Wednesday, reaching $50.84. The company’s stock had a trading volume of 590,491 shares, compared to its average volume of 752,021. The stock’s 50 day simple moving average is $50.83 and its two-hundred day simple moving average is $46.32. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. UL Solutions has a 12-month low of $33.15 and a 12-month high of $59.23.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.10. The business had revenue of $731.00 million for the quarter, compared to analysts’ expectations of $709.41 million. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Friday, November 29th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.98%.

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.