Gitte Schjotz, an executive at UL Solutions Inc. (NASDAQ:ULS), a $10.47 billion market cap company trading near its 52-week high of $59.23, recently sold shares of the company's Class A Common Stock. The transaction, which took place on December 6, involved the sale of 1,466 shares at a price of $54.50 each, totaling $79,897. Following this sale, Schjotz owns 37,682 shares directly. According to InvestingPro, ULS currently trades at a premium to its Fair Value, with a P/E ratio of 35.2x.
In addition to the sale, Schjotz also acquired 49,700 shares through the exercise of stock options at a price of $13.15 per share. This acquisition increased her total holdings to 87,382 shares.
The transactions reflect Schjotz's ongoing involvement with UL Solutions, where she serves as Executive Vice President and Chief Science and Operations Officer.
In other recent news, UL Solutions has been the subject of several significant updates. The company reported impressive third-quarter performance, surpassing expectations and leading to an upward revision of its full-year revenue guidance. This strong performance has prompted Goldman Sachs (NYSE:GS), Stifel, and Jefferies to maintain positive ratings on the company's stock, with Goldman Sachs raising the price target to $51, Stifel to $56, and Jefferies to $62, citing potential for future mergers and acquisitions.
Citi also recommenced coverage on UL Solutions, issuing a Buy rating and setting a price target of $60.00. These developments follow the appointment of a new Executive Vice President of Operations, Dadakis, who brings extensive experience in strategy and corporate development.
UL Solutions' Industrials business has seen strong growth due to ongoing trends such as the energy transition and industrial automation. However, the company's Consumer segment growth is not expected to continue at the same pace into the next quarter. The Software (ETR:SOWGn) & Advisory division is experiencing more moderate growth, attributed to inconsistent sales force performance.
In addition to financial performance, UL Solutions has made significant strides in its operations. The company has expanded its influence in the global decarbonization movement and electric vehicle market through the strategic acquisitions of German firms TesTneT Engineering GmbH and BatterieIngenieure GmbH. Furthermore, UL Solutions established a new generator safety lab in Toronto aimed at enhancing consumer safety. These recent developments provide a snapshot of UL Solutions' strategic moves and financial trajectory.
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