UL Solutions (NYSE:ULS) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

UL Solutions (NYSE:ULS - Free Report) had its target price raised by The Goldman Sachs Group from $51.00 to $57.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

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

UL Solutions Stock Up 2.4 %

NYSE:ULS traded up $1.29 during mid-day trading on Friday, hitting $54.11. 484,249 shares of the company's stock traded hands, compared to its average volume of 501,662. The company has a fifty day moving average of $52.41 and a 200 day moving average of $51.98. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. UL Solutions has a twelve month low of $33.15 and a twelve month high of $59.23. The company has a market capitalization of $10.83 billion and a P/E ratio of 33.40.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.11. The firm had revenue of $739.00 million for the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. On average, analysts forecast that UL Solutions will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

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

Insider Activity

In other news, insider Gitte Schjotz sold 5,941 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $52.58, for a total transaction of $312,377.78. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Hedge Funds Weigh In On UL Solutions

A number of large investors have recently bought and sold shares of ULS. Capital International Investors increased its position in shares of UL Solutions by 7.4% in the fourth quarter. Capital International Investors now owns 11,691,957 shares of the company's stock valued at $583,324,000 after buying an additional 809,779 shares in the last quarter. Vanguard Group Inc. grew its stake in UL Solutions by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock valued at $278,016,000 after acquiring an additional 401,492 shares during the period. JPMorgan Chase & Co. increased its holdings in UL Solutions by 29.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock worth $222,658,000 after acquiring an additional 1,022,851 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in UL Solutions by 88.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company's stock worth $210,729,000 after acquiring an additional 1,987,295 shares during the period. Finally, FMR LLC lifted its holdings in UL Solutions by 17.2% during the fourth quarter. FMR LLC now owns 4,178,072 shares of the company's stock valued at $208,402,000 after purchasing an additional 612,834 shares in the last quarter.

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.