UL Solutions Inc. (NYSE:ULS – Get Free Report) has received a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $101.54.
A number of research firms recently issued reports on ULS. BNP Paribas Exane began coverage on shares of UL Solutions in a research note on Monday, April 20th. They set a “neutral” rating and a $95.00 price target on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a research note on Wednesday, May 6th. Bank of America upped their price target on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. upped their price target on shares of UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Telsey Advisory Group set a $100.00 price objective on shares of UL Solutions in a research report on Wednesday, May 6th.
View Our Latest Stock Report on ULS
UL Solutions Price Performance
UL Solutions (NYSE:ULS – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. UL Solutions’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Sell-side analysts forecast that UL Solutions will post 2.1 EPS for the current fiscal year.
UL Solutions Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, May 29th. UL Solutions’s dividend payout ratio is presently 33.92%.
Insider Activity at UL Solutions
In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $91.57, for a total transaction of $1,144,625.00. Following the transaction, the chief executive officer directly owned 188,274 shares in the company, valued at approximately $17,240,250.18. This represents a 6.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Karen K. Pepping sold 725 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $97.74, for a total transaction of $70,861.50. Following the transaction, the chief accounting officer owned 8,082 shares in the company, valued at $789,934.68. The trade was a 8.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 65,705 shares of company stock worth $6,288,800 in the last three months. 1.20% of the stock is owned by insiders.
Hedge Funds Weigh In On UL Solutions
Several hedge funds have recently added to or reduced their stakes in ULS. Parallel Advisors LLC grew its holdings in UL Solutions by 349.3% during the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock valued at $26,000 after purchasing an additional 234 shares during the last quarter. Assetmark Inc. bought a new position in UL Solutions during the 3rd quarter valued at about $40,000. Northwestern Mutual Wealth Management Co. grew its holdings in UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after purchasing an additional 614 shares during the last quarter. Rhumbline Advisers bought a new position in UL Solutions during the 1st quarter valued at about $49,000. Finally, PNC Financial Services Group Inc. grew its holdings in UL Solutions by 18.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock valued at $61,000 after purchasing an additional 133 shares during the last quarter.
About UL Solutions
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.
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