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

Shares of UL Solutions Inc. (NYSE:ULS) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $49.00.

Several research firms recently issued reports on ULS. UBS Group raised their price target on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Citigroup assumed 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 on the stock. The Goldman Sachs Group upped their target price on shares of UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird raised their price target on UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th.

Insider Buying and Selling at UL Solutions

In other news, insider Gitte Schjotz sold 5,941 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $52.58, for a total transaction of $312,377.78. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On UL Solutions

Several hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA acquired a new position in UL Solutions during the second quarter valued at approximately $96,262,000. American Century Companies Inc. acquired a new position in UL Solutions in the 2nd quarter valued at about $68,832,000. JPMorgan Chase & Co. increased its stake in shares of UL Solutions by 29.3% during the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after purchasing an additional 1,022,851 shares during the period. AltraVue Capital LLC bought a new position in UL Solutions during the 2nd quarter worth $35,050,000. Finally, Soros Fund Management LLC increased its position in UL Solutions by 127.4% during the third quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company’s stock worth $56,058,000 after acquiring an additional 637,077 shares during the period.

UL Solutions Price Performance

Shares of ULS stock opened at $51.93 on Friday. UL Solutions has a 1 year low of $33.15 and a 1 year high of $59.23. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $51.37 and its 200-day moving average is $50.24.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.10. The firm had revenue of $731.00 million for the quarter, compared to the consensus estimate of $709.41 million. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, research analysts expect that UL Solutions will post 1.53 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Friday, November 29th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Friday, November 29th.

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.