UL Solutions (NYSE:ULS) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of UL Solutions (NYSE:ULSFree Report) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other brokerages have also issued reports on ULS. The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and issued a $115.00 price target on shares of UL Solutions in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised 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. BNP Paribas Exane began coverage on shares of UL Solutions in a report on Monday, April 20th. They set a “neutral” rating and a $95.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.54.

Get Our Latest Research Report on ULS

UL Solutions Trading Down 0.6%

Shares of UL Solutions stock opened at $88.78 on Monday. The firm’s 50 day moving average is $97.14 and its 200 day moving average is $86.29. The firm has a market capitalization of $17.89 billion, a PE ratio of 51.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.63. UL Solutions has a 1 year low of $61.64 and a 1 year high of $107.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.

UL Solutions (NYSE:ULSGet Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The firm had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $748.50 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Equities research analysts forecast that UL Solutions will post 2.1 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, May 29th. UL Solutions’s dividend payout ratio is presently 33.92%.

Insider Buying and Selling

In related news, insider Gitte Schjotz sold 9,865 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $96.98, for a total transaction of $956,707.70. Following the transaction, the insider directly owned 59,341 shares of the company’s stock, valued at $5,754,890.18. This represents a 14.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Karen K. Pepping sold 725 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total transaction of $70,861.50. Following the completion of the sale, the chief accounting officer owned 8,082 shares of the company’s stock, valued at $789,934.68. The trade was a 8.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,705 shares of company stock worth $6,460,300 over the last ninety days. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ULS. Parallel Advisors LLC increased its holdings 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 acquiring an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in UL Solutions by 3,070.0% in 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 period. Rhumbline Advisers acquired a new stake in UL Solutions in the 1st quarter valued at $49,000. CIBC Private Wealth Group LLC increased its stake in UL Solutions by 112.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after purchasing an additional 479 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in UL Solutions by 42.4% during the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock valued at $84,000 after purchasing an additional 245 shares in the last quarter.

About UL Solutions

(Get Free Report)

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.

Further Reading

Analyst Recommendations for UL Solutions (NYSE:ULS)

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