Brokerages Set UL Solutions Inc. (NYSE:ULS) PT at $88.42

UL Solutions Inc. (NYSE:ULS) has been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $88.4222.

ULS has been the subject of a number of research reports. UBS Group increased their target price on shares of UL Solutions from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Bank of America upped their price objective on shares of UL Solutions to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Citigroup dropped their price objective on shares of UL Solutions from $88.10 to $87.80 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. The Goldman Sachs Group restated a “neutral” rating on shares of UL Solutions in a research report on Friday, February 20th. Finally, Wells Fargo & Company boosted their target price on shares of UL Solutions from $97.00 to $102.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th.

UL Solutions Price Performance

UL Solutions stock opened at $90.25 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. UL Solutions has a 52 week low of $55.38 and a 52 week high of $94.04. The stock has a market capitalization of $18.14 billion, a P/E ratio of 56.76, a price-to-earnings-growth ratio of 3.62 and a beta of 0.77. The stock has a fifty day moving average of $84.01 and a 200-day moving average of $80.73.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The business had revenue of $789.00 million for the quarter, compared to analyst estimates of $782.37 million. During the same period last year, the firm posted $0.49 earnings per share. UL Solutions’s revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts expect that UL Solutions will post 2.02 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were issued a dividend of $0.145 per share. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. UL Solutions’s dividend payout ratio (DPR) is 36.48%.

Insiders Place Their Bets

In other UL Solutions news, CEO Jennifer F. Scanlon sold 12,500 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $85.50, for a total value of $1,068,750.00. Following the completion of the transaction, the chief executive officer owned 200,774 shares of the company’s stock, valued at $17,166,177. This represents a 5.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of UL Solutions

A number of hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in shares of UL Solutions by 18.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock worth $61,000 after purchasing an additional 133 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of UL Solutions by 4.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,541 shares of the company’s stock worth $251,000 after buying an additional 145 shares during the period. Advisor OS LLC increased its position in shares of UL Solutions by 4.4% during the fourth quarter. Advisor OS LLC now owns 3,477 shares of the company’s stock worth $274,000 after buying an additional 147 shares during the period. Cresset Asset Management LLC raised its stake in UL Solutions by 4.0% during the second quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock worth $304,000 after buying an additional 159 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its stake in UL Solutions by 3.6% during the third quarter. Sheets Smith Wealth Management now owns 4,674 shares of the company’s stock worth $331,000 after buying an additional 164 shares during the last quarter.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.