Shares of UL Solutions Inc. (NYSE:ULS – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $96.78.
Several research firms have weighed in on ULS. The Goldman Sachs Group set a $86.00 target price on UL Solutions in a research note on Wednesday, August 5th. Citigroup decreased their price target on UL Solutions from $106.40 to $82.80 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings raised UL Solutions from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of UL Solutions in a research note on Wednesday, May 6th.
Get Our Latest Stock Report on UL Solutions
UL Solutions Price Performance
UL Solutions (NYSE:ULS – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $816.00 million for the quarter, compared to analyst estimates of $813.62 million. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, equities research analysts predict that UL Solutions will post 2.08 EPS for the current fiscal year.
UL Solutions Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 31st will be issued a $0.145 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.8%. UL Solutions’s dividend payout ratio is 23.48%.
Insider Activity
In related news, insider Gitte Schjotz sold 9,865 shares of UL Solutions stock in a transaction that occurred 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 sale, the insider directly owned 59,341 shares of the company’s stock, valued at approximately $5,754,890.18. The trade was a 14.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer F. Scanlon sold 12,500 shares of UL Solutions stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $92.08, for a total transaction of $1,151,000.00. Following the sale, the chief executive officer directly owned 151,724 shares in the company, valued at $13,970,745.92. This trade represents a 7.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 35,590 shares of company stock worth $3,418,819. Corporate insiders own 1.20% of the company’s stock.
Institutional Trading of UL Solutions
Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in shares of UL Solutions by 10,220.7% in the 2nd quarter. California State Teachers Retirement System now owns 8,703,631 shares of the company’s stock valued at $886,552,000 after acquiring an additional 8,619,299 shares during the last quarter. Ghisallo Capital Management LLC grew its position in UL Solutions by 1,299.3% during the 4th quarter. Ghisallo Capital Management LLC now owns 1,399,273 shares of the company’s stock worth $110,347,000 after acquiring an additional 1,299,273 shares during the last quarter. Vanguard Group Inc. grew its position in UL Solutions by 21.9% during the 4th quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock worth $531,567,000 after acquiring an additional 1,213,188 shares during the last quarter. State Street Corp increased its holdings in UL Solutions by 272.1% in the 4th quarter. State Street Corp now owns 1,460,723 shares of the company’s stock worth $115,193,000 after purchasing an additional 1,068,194 shares in the last quarter. Finally, Norges Bank acquired a new position in UL Solutions in the 4th quarter worth about $72,719,000.
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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