UL Solutions (NYSE:ULS) Given New $57.00 Price Target at Robert W. Baird

UL Solutions (NYSE:ULS) had its price objective hoisted by Robert W. Baird from $53.00 to $57.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price target on shares of UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” 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. Wells Fargo & Company increased their price target 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, Citigroup began coverage on shares of UL Solutions in a report on Monday, October 7th. They set a “buy” rating and a $60.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

UL Solutions Stock Up 2.6 %

ULS stock opened at $51.36 on Wednesday. The firm’s fifty day simple moving average is $50.99 and its 200-day simple moving average is $45.96. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions has a 12 month low of $33.15 and a 12 month high of $59.23.

UL Solutions (NYSE:ULS) last released 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 business 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%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts anticipate that UL Solutions will post 1.48 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, August 30th.

Insider Transactions at UL Solutions

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is available through this link.

Hedge Funds Weigh In On UL Solutions

A number of institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new position in UL Solutions during the second quarter worth about $29,000. Sunbelt Securities Inc. purchased a new position in UL Solutions during the second quarter worth about $72,000. Daiwa Securities Group Inc. purchased a new position in UL Solutions during the second quarter worth about $84,000. TFC Financial Management Inc. purchased a new stake in shares of UL Solutions in the 2nd quarter valued at approximately $88,000. Finally, Phillips Wealth Planners LLC purchased a new stake in shares of UL Solutions in the 3rd quarter valued at approximately $218,000.

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.