UL Solutions (NYSE:ULS) Price Target Raised to $105.00

UL Solutions (NYSE:ULS – Free Report) had its price objective increased by Wells Fargo & Company from $104.00 to $105.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research firms have also issued reports on ULS. UBS Group increased their target price on shares of UL Solutions from $96.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, October 12th. William Blair reaffirmed an “outperform” rating on shares of UL Solutions in a report on Monday, September 21st. Robert W. Baird dropped their price target on shares of UL Solutions from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Wall Street Zen cut shares of UL Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings downgraded shares of UL Solutions from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, September 21st. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.84.

Check Out Our Latest Analysis on ULS

UL Solutions Stock Performance

Shares of NYSE:ULS traded up $2.60 during midday trading on Wednesday, hitting $78.75. The company had a trading volume of 854,226 shares, compared to its average volume of 975,551. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $15.90 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 3.11 and a beta of 0.62. UL Solutions has a 12-month low of $63.17 and a 12-month high of $107.54. The company has a fifty day moving average of $71.02 and a two-hundred day moving average of $82.53.

UL Solutions (NYSE:ULS – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.62. The business had revenue of $823.00 million during the quarter, compared to analyst estimates of $815.72 million. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%. UL Solutions’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 earnings per share. On average, equities research analysts expect that UL Solutions will post 2.09 EPS for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were paid a $0.1450 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions’s dividend payout ratio is 23.11%.

Insider Transactions at UL Solutions

In related news, CEO Jennifer Scanlon sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $75.03, for a total value of $937,875.00. Following the transaction, the chief executive officer directly owned 114,224 shares of the company’s stock, valued at approximately $8,570,226.72. The trade was a 9.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 37,500 shares of company stock worth $2,734,625. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UL Solutions

A number of institutional investors have recently added to or reduced their stakes in ULS. Parallel Advisors LLC raised its position in shares of UL Solutions by 349.3% during the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after buying an additional 234 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of UL Solutions during the second quarter worth $34,000. NewEdge Advisors LLC grew its stake in UL Solutions by 50.0% during the second quarter. NewEdge Advisors LLC now owns 450 shares of the company’s stock valued at $46,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. purchased a new position in UL Solutions during the third quarter valued at $33,000. Finally, Covestor Ltd purchased a new position in UL Solutions during the third quarter valued at $34,000.

About UL Solutions

(Get Free Report)

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that provides testing, inspection, certification, and advisory services. The company helps manufacturers, retailers, regulators, and other organizations evaluate the safety, security, performance, quality, and sustainability of products, facilities, and systems.

Its services cover a broad range of industries, including consumer products, industrial equipment, energy, mobility, information technology, and the built environment.

Further Reading

Analyst Recommendations for UL Solutions (NYSE:ULS)

Receive News & Ratings for UL Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UL Solutions and related companies with MarketBeat.com's FREE daily email newsletter.