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

Shares of UL Solutions Inc. (NYSE:ULS) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat.com reports. Four equities 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 objective among brokers that have issued ratings on the stock in the last year is $49.00.

A number of brokerages have recently weighed in on ULS. Robert W. Baird lifted their price target on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup assumed coverage on UL Solutions in a research report on Monday, October 7th. They issued a “buy” rating and a $60.00 target price for the company. Wells Fargo & Company boosted their price target on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. UBS Group boosted their price objective on shares of UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their price target on UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th.

Insider Buying and Selling at UL Solutions

In related news, insider Gitte Schjotz sold 5,941 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $52.58, for a total transaction of $312,377.78. Following the transaction, the insider now directly owns 69,191 shares of the company’s stock, valued at $3,638,062.78. This represents a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On UL Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in ULS. Stone House Investment Management LLC purchased a new stake in UL Solutions in the third quarter valued at approximately $25,000. EverSource Wealth Advisors LLC purchased a new position in shares of UL Solutions during the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. purchased a new position in UL Solutions during the 2nd quarter valued at about $72,000. Daiwa Securities Group Inc. bought a new stake in UL Solutions in the second quarter worth $84,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of UL Solutions during the third quarter valued at approximately $84,000.

UL Solutions Price Performance

NYSE ULS opened at $51.32 on Friday. The company’s fifty day simple moving average is $51.32 and its 200-day simple moving average is $50.23. 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 52 week low of $33.15 and a 52 week high of $59.23.

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

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Friday, November 29th were issued a $0.125 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.50 dividend on an annualized basis and a yield of 0.97%.

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.