Analysts Set UL Solutions Inc. (NYSE:ULS) PT at $45.80

UL Solutions Inc. (NYSE:ULS) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $45.80.

Several analysts recently issued reports on ULS shares. Wells Fargo & Company raised their price target on UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Baird R W downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Citigroup began coverage on shares of UL Solutions in a research report on Monday, October 7th. They issued a “buy” rating and a $60.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird lifted their price target on UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, August 1st.

Insider Buying and Selling

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $49.00, for a total value of $147,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ULS. WoodTrust Financial Corp purchased a new position in UL Solutions in the 3rd quarter worth about $228,000. Phillips Wealth Planners LLC acquired a new position in shares of UL Solutions in the third quarter worth about $218,000. Conestoga Capital Advisors LLC increased its position in shares of UL Solutions by 2.3% in the third quarter. Conestoga Capital Advisors LLC now owns 708,513 shares of the company’s stock worth $34,930,000 after acquiring an additional 15,722 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of UL Solutions by 19.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company’s stock valued at $36,805,000 after acquiring an additional 122,975 shares during the period. Finally, Fortis Group Advisors LLC purchased a new stake in shares of UL Solutions in the 3rd quarter valued at approximately $349,000.

UL Solutions Price Performance

UL Solutions stock opened at $51.96 on Tuesday. UL Solutions has a 1 year low of $33.15 and a 1 year high of $56.28. The firm’s 50-day moving average is $51.46 and its 200-day moving average is $45.12. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29.

UL Solutions (NYSE:ULS) last issued its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The business had revenue of $730.00 million during the quarter, compared to the consensus estimate of $718.73 million. UL Solutions’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts forecast that UL Solutions will post 1.48 earnings per share for the current year.

UL Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 0.96%.

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.