UL Solutions (NYSE:ULS) Reaches New 52-Week High - Still a Buy?

UL Solutions Inc. (NYSE:ULS - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $59.23 and last traded at $54.76, with a volume of 149417 shares changing hands. The stock had previously closed at $51.96.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company upped their price target on UL Solutions from $43.00 to $56.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Citigroup started coverage on UL Solutions in a research note on Monday, October 7th. They issued a "buy" rating and a $60.00 price objective on the stock. Baird R W lowered UL Solutions from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 12th. Robert W. Baird increased their price target on UL Solutions from $46.00 to $53.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group increased their price target on UL Solutions from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, UL Solutions presently has an average rating of "Moderate Buy" and an average price target of $45.80.

UL Solutions Stock Performance

The stock has a 50 day moving average price of $51.30 and a two-hundred day moving average price of $45.56. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, August 30th.

Insider Buying and Selling

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On UL Solutions

A number of large investors have recently added to or reduced their stakes in ULS. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of UL Solutions in the 3rd quarter valued at about $9,615,000. WoodTrust Financial Corp acquired a new stake in UL Solutions during the third quarter worth approximately $228,000. Phillips Wealth Planners LLC acquired a new position in shares of UL Solutions in the third quarter valued at approximately $218,000. Conestoga Capital Advisors LLC grew its position in shares of 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 purchasing an additional 15,722 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of UL Solutions by 19.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company's stock valued at $36,805,000 after purchasing an additional 122,975 shares during 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.