Brokerages Set UL Solutions Inc. (NYSE:ULS) PT at $45.80

UL Solutions Inc. (NYSE:ULS - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $45.80.

Several analysts have commented on ULS shares. Baird R W lowered shares of UL Solutions from a "strong-buy" rating to a "hold" rating in a report on Friday, July 12th. The Goldman Sachs Group lifted their price target on UL Solutions from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Robert W. Baird increased their price objective on UL Solutions from $46.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price objective on UL Solutions from $43.00 to $56.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Finally, Citigroup began coverage on shares of UL Solutions in a research report on Monday, October 7th. They issued a "buy" rating and a $60.00 target price on the stock.

UL Solutions Stock Performance

Shares of ULS stock traded up $0.02 during trading hours on Tuesday, reaching $52.61. The company's stock had a trading volume of 528,548 shares, compared to its average volume of 742,600. The firm's fifty day simple moving average is $51.48 and its 200 day simple moving average is $45.01. UL Solutions has a one year low of $33.15 and a one year high of $56.28. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick ratio of 1.29.

UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.38 by $0.06. The company had revenue of $730.00 million during the quarter, compared to the consensus estimate of $718.73 million. The business's revenue was up 6.0% on a year-over-year basis. On average, research analysts expect that UL Solutions will post 1.48 earnings per share for the current year.

UL Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, August 30th.

Insider Activity at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Phillips Wealth Planners LLC purchased a new position in shares of UL Solutions in the 3rd quarter worth $218,000. Conestoga Capital Advisors LLC lifted its holdings in UL Solutions by 2.3% in the third quarter. Conestoga Capital Advisors LLC now owns 708,513 shares of the company's stock valued at $34,930,000 after acquiring an additional 15,722 shares during the period. DekaBank Deutsche Girozentrale boosted its position in UL Solutions by 19.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company's stock worth $36,805,000 after purchasing an additional 122,975 shares during the last quarter. Fortis Group Advisors LLC bought a new stake in shares of UL Solutions during the 3rd quarter valued at about $349,000. Finally, Raymond James & Associates lifted its stake in shares of UL Solutions by 2.4% in the 3rd quarter. Raymond James & Associates now owns 220,609 shares of the company's stock worth $10,876,000 after purchasing an additional 5,177 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.