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

Shares of UL Solutions Inc. (NYSE:ULS - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $49.00.

A number of research analysts recently commented on the company. Citigroup began coverage on UL Solutions in a research note on Monday, October 7th. They set a "buy" rating and a $60.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of UL Solutions from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. UBS Group upped their target price 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. Wells Fargo & Company lifted their price target on UL Solutions from $56.00 to $62.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Finally, Robert W. Baird increased their price objective on UL Solutions from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th.

UL Solutions Trading Up 1.7 %

Shares of UL Solutions stock traded up $0.92 during trading hours on Friday, reaching $54.04. The company's stock had a trading volume of 638,523 shares, compared to its average volume of 725,293. UL Solutions has a one year low of $33.15 and a one year high of $59.23. The company's 50 day simple moving average is $51.25 and its 200 day simple moving average is $47.04. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85.

UL Solutions (NYSE:ULS - Get Free Report) last issued its 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 firm had revenue of $731.00 million for the quarter, compared to analysts' expectations of $709.41 million. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The company's quarterly revenue was up 8.1% compared to the same quarter last year. Analysts forecast that UL Solutions will post 1.53 earnings per share for the current year.

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, November 29th.

Insider Activity

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of UL Solutions

A number of large investors have recently added to or reduced their stakes in ULS. Renaissance Technologies LLC acquired a new stake in shares of UL Solutions during the 2nd quarter valued at $3,536,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of UL Solutions during the third quarter worth $9,615,000. Federated Hermes Inc. purchased a new stake in shares of UL Solutions during the second quarter valued at $13,636,000. Discovery Capital Management LLC CT acquired a new position in shares of UL Solutions in the 2nd quarter valued at $1,055,000. Finally, Raymond James & Associates purchased a new position in UL Solutions in the 2nd quarter worth about $9,089,000.

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.