The Goldman Sachs Group Issues Positive Forecast for UL Solutions (NYSE:ULS) Stock Price

UL Solutions (NYSE:ULS) had its price target increased by The Goldman Sachs Group from $51.00 to $57.00 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group increased their target price on shares of UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price target 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. 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 research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.40.

UL Solutions Stock Down 1.8 %

UL Solutions stock opened at $53.05 on Friday. The firm has a 50 day simple moving average of $52.34 and a 200 day simple moving average of $51.90. 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 has a 1-year low of $33.15 and a 1-year high of $59.23. The firm has a market capitalization of $10.62 billion and a price-to-earnings ratio of 32.74.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. The company had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. On average, analysts predict that UL Solutions will post 1.69 earnings per share for the current year.

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, February 28th. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is currently 30.86%.

Insider Buying and Selling at UL Solutions

In other news, insider Gitte Schjotz sold 5,941 shares of the 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 transaction, the insider now directly owns 69,191 shares in the company, valued at approximately $3,638,062.78. This represents a 7.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of UL Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James & Associates lifted its holdings in shares of UL Solutions by 2.4% in the 3rd quarter. Raymond James & Associates now owns 220,609 shares of the company’s stock worth $10,876,000 after acquiring an additional 5,177 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in UL Solutions by 19.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 756,505 shares of the company’s stock worth $36,805,000 after purchasing an additional 122,975 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in UL Solutions by 2.3% during the third quarter. Conestoga Capital Advisors LLC now owns 708,513 shares of the company’s stock valued at $34,930,000 after buying an additional 15,722 shares during the period. Phillips Wealth Planners LLC bought a new position in shares of UL Solutions during the third quarter valued at about $218,000. Finally, WoodTrust Financial Corp purchased a new position in shares of UL Solutions in the third quarter worth about $228,000.

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.