UL Solutions (NYSE:ULS) Given New $51.00 Price Target at The Goldman Sachs Group

UL Solutions (NYSE:ULS) had its price target increased by The Goldman Sachs Group from $45.00 to $51.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

ULS has been the subject of a number of other research reports. Baird R W lowered shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Citigroup initiated coverage on shares of UL Solutions in a research note on Monday, October 7th. They issued a “buy” rating and a $60.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Robert W. Baird lifted their price objective on shares of UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday. Four 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, the company has an average rating of “Moderate Buy” and a consensus price target of $49.00.

UL Solutions Trading Down 2.3 %

Shares of NYSE:ULS opened at $50.36 on Wednesday. The firm has a fifty day moving average of $51.15 and a two-hundred day moving average of $45.72. UL Solutions has a 12-month low of $33.15 and a 12-month high of $59.23. 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) last issued its earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. The company had revenue of $731.00 million for the quarter, compared to analyst estimates of $709.41 million. UL Solutions’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts predict that UL Solutions will post 1.48 earnings per share for the current year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 annualized dividend and a yield of 0.99%.

Insider Buying and Selling

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in shares of UL Solutions during the 2nd quarter worth about $3,536,000. Federated Hermes Inc. bought a new position in shares of UL Solutions during the 2nd quarter worth about $13,636,000. Discovery Capital Management LLC CT bought a new position in shares of UL Solutions during the 2nd quarter worth about $1,055,000. Raymond James & Associates bought a new position in shares of UL Solutions during the 2nd quarter worth about $9,089,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of UL Solutions during the 2nd quarter worth about $20,040,000.

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.