UL Solutions Inc. (NYSE:ULS) Receives $49.00 Consensus PT from Analysts

Shares of UL Solutions Inc. (NYSE:ULS) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $49.00.

Several brokerages recently issued reports on ULS. The Goldman Sachs Group upped their price target on shares of UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Citigroup started coverage on shares of UL Solutions in a research report on Monday, October 7th. They set a “buy” rating and a $60.00 target price on the stock. 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. Robert W. Baird upped 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. Finally, UBS Group lifted their target price on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th.

UL Solutions Stock Up 2.3 %

Shares of ULS opened at $55.30 on Friday. The stock has a 50 day simple moving average of $51.25 and a 200-day simple moving average of $47.20. 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 has a 1 year low of $33.15 and a 1 year high of $59.23.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. The company had revenue of $731.00 million during the quarter, compared to analysts’ expectations of $709.41 million. UL Solutions’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that UL Solutions will post 1.53 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 29th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, November 29th.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s stock in a transaction on 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 can be accessed through this link.

Institutional Investors Weigh In On UL Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in UL Solutions during the 2nd quarter worth $3,536,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of UL Solutions in the third quarter worth $9,615,000. Federated Hermes Inc. acquired a new position in UL Solutions in the second quarter valued at about $13,636,000. Discovery Capital Management LLC CT bought a new stake in UL Solutions during the second quarter worth about $1,055,000. Finally, Raymond James & Associates acquired a new stake in UL Solutions during the second quarter worth about $9,089,000.

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.