UL Solutions Inc. (NYSE:ULS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of UL Solutions Inc. (NYSE:ULS) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $49.00.

A number of brokerages have weighed in on ULS. Citigroup began coverage on UL Solutions in a report on Monday, October 7th. They set a “buy” rating and a $60.00 price target for the company. Robert W. Baird increased their price objective on shares of UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on shares of UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. UBS Group increased their price objective on shares of UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their price objective 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.

Insider Activity at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction that occurred on Monday, September 23rd. The shares were 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 SEC, which is accessible through this link. Also, insider Gitte Schjotz sold 5,941 shares of UL Solutions stock in a transaction that occurred on 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 disclosure for this sale can be found here.

Hedge Funds Weigh In On UL Solutions

Several hedge funds have recently modified their holdings of ULS. Stone House Investment Management LLC bought a new position in shares of UL Solutions during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC bought a new position in shares of UL Solutions during the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new position in shares of UL Solutions during the 2nd quarter worth approximately $72,000. Daiwa Securities Group Inc. bought a new position in shares of UL Solutions during the 2nd quarter worth approximately $84,000. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of UL Solutions during the 3rd quarter worth approximately $84,000.

UL Solutions Stock Down 1.1 %

Shares of UL Solutions stock opened at $50.94 on Wednesday. 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 business has a 50-day moving average price of $52.37 and a two-hundred day moving average price of $48.79. UL Solutions has a 1-year low of $33.15 and a 1-year high of $59.23.

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

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Friday, November 29th were given a $0.125 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.50 annualized dividend and a yield of 0.98%.

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.