UL Solutions Inc.’s Lock-Up Period To Expire Tomorrow (NYSE:ULS)

UL Solutions’ (NYSE:ULS) lock-up period is set to end on Wednesday, October 9th. UL Solutions had issued 33,800,000 shares in its IPO on April 12th. The total size of the offering was $946,400,000 based on an initial share price of $28.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analyst Upgrades and Downgrades

ULS has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their target price on shares of UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Baird R W downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird raised their target price on shares of UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Citigroup initiated coverage on shares of UL Solutions in a research report on Monday. They set a “buy” rating and a $60.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, UL Solutions has an average rating of “Moderate Buy” and a consensus price target of $45.80.

UL Solutions Stock Down 1.2 %

Shares of UL Solutions stock opened at $50.09 on Tuesday. The stock has a 50 day moving average price of $50.79. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00. UL Solutions has a 52-week low of $33.15 and a 52-week high of $56.28.

UL Solutions (NYSE:ULS) last released its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.06. The company had revenue of $730.00 million for the quarter, compared to analysts’ expectations of $718.73 million. UL Solutions’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that UL Solutions will post 1.46 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 30th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, August 30th.

Insiders Place Their Bets

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 at this link.

Institutional Trading of UL Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new stake in UL Solutions during the 2nd quarter valued at approximately $29,000. Sunbelt Securities Inc. acquired a new stake in UL Solutions during the 2nd quarter valued at approximately $72,000. Daiwa Securities Group Inc. acquired a new stake in UL Solutions during the 2nd quarter valued at approximately $84,000. TFC Financial Management Inc. acquired a new stake in UL Solutions during the 2nd quarter valued at approximately $88,000. Finally, Bellecapital International Ltd. acquired a new stake in UL Solutions during the 2nd quarter valued at approximately $208,000.

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.