UL Solutions slips as parent to trim stake in safety testing firm

UL Solutions

02/12/2025 21:24

** Shares of UL Solutions ULS.N down 2.1% post-market to $87 after secondary offering launched

** Northbrook, Illinois-based safety testing co says UL Standards & Engagement (ULSE) to offload 12.5 mln shares

** Goldman Sachs and JP Morgan are lead bookrunners for offering

** Sale would take ULSE's holdings to about 125.6 mln shares, per the offering prospectus

** Co has about 201 mln total shares outstanding

** ULS shares on Tues closed down 1.5% at $88.85, trimming YTD gain to 78%

** 5 of 11 analysts covering ULS rate stock "strong buy" or "buy", 6 rate "hold"; median PT of $96 up from $72 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))