Verition Fund Management LLC Sells 41,302 Shares of UL Solutions Inc. (NYSE:ULS)

Verition Fund Management LLC lowered its position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 61.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,014 shares of the company's stock after selling 41,302 shares during the quarter. Verition Fund Management LLC's holdings in UL Solutions were worth $1,282,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on ULS shares. The Goldman Sachs Group increased their price target on shares of UL Solutions from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. UBS Group boosted their price target on UL Solutions from $52.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price objective on UL Solutions from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their price target on shares of UL Solutions from $56.00 to $62.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Finally, Citigroup started coverage on shares of UL Solutions in a report on Monday, October 7th. They set a "buy" rating and a $60.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.00.

Insider Transactions at UL Solutions

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the business's stock in a transaction dated 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 filing with the SEC, which is available through this link.

UL Solutions Stock Down 0.5 %

NYSE ULS traded down $0.29 on Friday, reaching $53.35. 522,335 shares of the stock were exchanged, compared to its average volume of 571,956. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. UL Solutions Inc. has a one year low of $33.15 and a one year high of $59.23. The company's 50-day simple moving average is $52.15 and its two-hundred day simple moving average is $48.28.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.39 by $0.10. The firm had revenue of $731.00 million for the quarter, compared to the consensus estimate of $709.41 million. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. UL Solutions's revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts expect that UL Solutions Inc. will post 1.53 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 29th.

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.