Short Interest in UL Solutions Inc. (NYSE:ULS) Declines By 42.1%

UL Solutions Inc. (NYSE:ULS) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 799,300 shares, a drop of 42.1% from the August 31st total of 1,380,000 shares. Based on an average daily volume of 750,100 shares, the days-to-cover ratio is presently 1.1 days. Currently, 2.1% of the company’s shares are sold short.

Insider Buying and Selling

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the 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 Trading of UL Solutions

Large investors have recently modified their holdings of the company. Bellecapital International Ltd. bought a new stake in UL Solutions during the second quarter valued at approximately $208,000. Raymond James & Associates bought a new position in shares of UL Solutions in the second quarter worth approximately $9,089,000. Hall Laurie J Trustee purchased a new stake in shares of UL Solutions in the second quarter worth $2,066,000. TFC Financial Management Inc. bought a new stake in shares of UL Solutions during the 2nd quarter valued at $88,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of UL Solutions during the 2nd quarter valued at $586,000.

UL Solutions Trading Up 0.3 %

UL Solutions stock traded up $0.17 during mid-day trading on Thursday, hitting $49.63. The company had a trading volume of 1,306,270 shares, compared to its average volume of 745,206. The business has a 50 day simple moving average of $49.99. 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 12 month low of $33.15 and a 12 month high of $56.28.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The firm had revenue of $730.00 million during the quarter, compared to analysts’ expectations of $718.73 million. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts predict that UL Solutions will post 1.46 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, August 30th.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. 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. The Goldman Sachs Group boosted their price target 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 price objective on shares of UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird increased their target price on UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.90.

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.