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

UL Solutions Inc. (NYSE:ULS) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $49.00.

ULS has been the subject of several analyst reports. UBS Group increased their target price on shares of UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Robert W. Baird increased their price objective on shares of UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Citigroup started coverage on UL Solutions in a report on Monday, October 7th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th.

Insider Buying and Selling

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gitte Schjotz sold 5,941 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $52.58, for a total value of $312,377.78. Following the transaction, the insider now owns 69,191 shares of the company’s stock, valued at approximately $3,638,062.78. This represents a 7.91 % decrease in their position. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates purchased a new position in shares of UL Solutions in the 2nd quarter valued at approximately $9,089,000. Bank of New York Mellon Corp bought a new position in shares of UL Solutions in the 2nd quarter worth approximately $586,000. Legato Capital Management LLC bought a new position in shares of UL Solutions in the 2nd quarter worth approximately $534,000. Conestoga Capital Advisors LLC bought a new stake in UL Solutions during the second quarter valued at approximately $29,229,000. Finally, Peregrine Capital Management LLC purchased a new stake in UL Solutions during the second quarter valued at approximately $2,194,000.

UL Solutions Stock Up 2.9 %

Shares of ULS opened at $50.89 on Wednesday. UL Solutions has a 52 week low of $33.15 and a 52 week high of $59.23. The stock has a 50 day moving average price of $52.27 and a two-hundred day moving average price of $48.98. 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 (NYSE:ULS) last announced its earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $709.41 million. The business’s revenue was up 8.1% on a year-over-year basis. On average, analysts forecast that UL Solutions will post 1.53 earnings per share for the current year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Friday, November 29th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, November 29th.

UL Solutions Company Profile

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.