UL Solutions (NYSE:ULS) Posts Quarterly Earnings Results

UL Solutions (NYSE:ULS - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.11, Zacks reports. The firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%.

UL Solutions Price Performance

Shares of ULS traded down $0.97 on Friday, hitting $53.05. The company's stock had a trading volume of 810,889 shares, compared to its average volume of 498,967. The company has a 50 day moving average price of $52.34 and a 200 day moving average price of $51.90. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions has a fifty-two week low of $33.15 and a fifty-two week high of $59.23.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.98%.

Wall Street Analyst Weigh In

ULS has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of UL Solutions from $56.00 to $62.00 and gave the company an "overweight" 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 report on Friday. JPMorgan Chase & Co. lifted their price objective on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Friday. UBS Group boosted their price objective on UL Solutions from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird raised their target price on UL Solutions from $53.00 to $57.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.40.

Insider Activity

In related news, insider Gitte Schjotz sold 5,941 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $52.58, for a total value of $312,377.78. Following the completion of the sale, the insider now owns 69,191 shares of the company's stock, valued at $3,638,062.78. This trade represents a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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.