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

UL Solutions Inc. (NYSE:ULS) was the target of 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. Based on an average trading volume of 799,600 shares, the short-interest ratio is presently 0.9 days. Approximately 1.9% of the company’s shares are short sold.

UL Solutions Trading Up 0.1 %

NYSE:ULS traded up $0.06 during trading hours on Friday, reaching $52.97. The company had a trading volume of 290,140 shares, compared to its average volume of 747,167. UL Solutions has a 1-year low of $33.15 and a 1-year high of $56.28. The stock has a 50 day moving average price of $51.50. 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 (NYSE:ULS) last posted its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts forecast that UL Solutions will post 1.46 EPS for the current year.

UL Solutions Dividend Announcement

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

Insider Transactions at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm’s stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

ULS has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on 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 boosted their price objective 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. 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 note on Thursday, August 1st. Baird R W downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Citigroup began coverage on UL Solutions in a report on Monday, October 7th. They set a “buy” rating and a $60.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.80.

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.