UL Solutions (NYSE:ULS) Price Target Raised to $60.50 at Citigroup

UL Solutions (NYSE:ULS - Free Report) had its price objective lifted by Citigroup from $60.00 to $60.50 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. Robert W. Baird boosted their price objective on UL Solutions from $53.00 to $57.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. UBS Group upped their price target on UL Solutions from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price target on UL Solutions from $51.00 to $57.00 and gave the company a "neutral" rating in a research report on Friday. Wells Fargo & Company upped their price target on UL Solutions from $56.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upped their price target on UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.45.

UL Solutions Price Performance

ULS stock traded up $1.29 during midday trading on Tuesday, reaching $54.11. 484,249 shares of the stock were exchanged, compared to its average volume of 501,662. The stock has a market capitalization of $10.83 billion and a PE ratio of 33.40. UL Solutions has a 52 week low of $33.15 and a 52 week high of $59.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The company has a fifty day moving average price of $52.41 and a 200 day moving average price of $51.98.

UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.11. The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. As a group, analysts expect that UL Solutions will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.96%. This is an increase from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date is Friday, February 28th. UL Solutions's payout ratio is currently 32.10%.

Insider Activity

In related news, insider Gitte Schjotz sold 5,941 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was 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 approximately $3,638,062.78. This represents a 7.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Connecticut Wealth Management LLC acquired a new position in UL Solutions during the 4th quarter worth approximately $509,000. Repertoire Partners LP acquired a new position in UL Solutions during the 4th quarter worth approximately $2,275,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in UL Solutions by 161.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,566 shares of the company's stock worth $5,515,000 after buying an additional 68,259 shares during the period. Voloridge Investment Management LLC acquired a new position in UL Solutions during the 4th quarter worth approximately $14,382,000. Finally, Two Sigma Advisers LP raised its stake in UL Solutions by 24.0% during the 4th quarter. Two Sigma Advisers LP now owns 574,600 shares of the company's stock worth $28,661,000 after buying an additional 111,300 shares during the period.

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.