UL Solutions Inc. (NYSE:ULS) Receives $69.43 Consensus Price Target from Brokerages

Shares of UL Solutions Inc. (NYSE:ULS) have been given a consensus rating of “Hold” by the eight research firms that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $69.43.

A number of research analysts recently commented on ULS shares. JPMorgan Chase & Co. upped their price objective on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Citigroup restated a “neutral” rating and set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Wells Fargo & Company upped their price target on shares of UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group upped their price target on shares of UL Solutions from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Finally, UBS Group upped their target price on shares of UL Solutions from $58.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th.

Insider Activity at UL Solutions

In other UL Solutions news, insider Gitte Schjotz sold 7,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total transaction of $472,080.00. Following the completion of the transaction, the insider now directly owns 46,889 shares of the company’s stock, valued at approximately $3,162,194.16. This trade represents a 12.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alberto Uggetti sold 1,961 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $70.00, for a total value of $137,270.00. Following the transaction, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at $649,950. This represents a 17.44% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UL Solutions

Large investors have recently modified their holdings of the stock. Elequin Capital LP acquired a new position in UL Solutions in the 1st quarter worth approximately $31,000. Quarry LP acquired a new stake in UL Solutions in the fourth quarter valued at approximately $32,000. PNC Financial Services Group Inc. lifted its stake in UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company’s stock valued at $33,000 after acquiring an additional 582 shares during the last quarter. Rhumbline Advisers acquired a new stake in UL Solutions in the first quarter valued at approximately $49,000. Finally, Northwest & Ethical Investments L.P. lifted its stake in UL Solutions by 23.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company’s stock valued at $105,000 after acquiring an additional 400 shares during the last quarter.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $71.18 on Friday. 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 $38.50 and a fifty-two week high of $72.81. The firm has a 50-day simple moving average of $63.32 and a 200 day simple moving average of $56.43. The company has a market cap of $14.27 billion, a PE ratio of 43.94 and a beta of 1.21.

UL Solutions (NYSE:ULS) last posted its earnings results on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $705.00 million during the quarter, compared to analyst estimates of $704.19 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that UL Solutions will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Friday, May 30th will be given a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.73%. UL Solutions’s dividend payout ratio is presently 31.14%.

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.