6,000 Shares in UL Solutions Inc. (NYSE:ULS) Bought by Drive Wealth Management LLC

Drive Wealth Management LLC bought a new stake in UL Solutions Inc. (NYSE:ULS) during the 3rd quarter, Holdings Channel.com reports. The fund bought 6,000 shares of the company’s stock, valued at approximately $296,000.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new position in shares of UL Solutions in the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new position in shares of UL Solutions during the second quarter worth $72,000. Daiwa Securities Group Inc. purchased a new stake in shares of UL Solutions during the 2nd quarter valued at $84,000. TFC Financial Management Inc. acquired a new stake in shares of UL Solutions in the 2nd quarter worth $88,000. Finally, Bellecapital International Ltd. purchased a new position in UL Solutions during the 2nd quarter worth $208,000.

UL Solutions Price Performance

NYSE:ULS opened at $50.60 on Tuesday. The firm’s fifty day moving average is $50.85 and its two-hundred day moving average is $46.61. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions Inc. has a one year low of $33.15 and a one year high of $59.23.

UL Solutions (NYSE:ULS) last issued its earnings results on Tuesday, November 5th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. The firm had revenue of $731.00 million for the quarter, compared to the consensus estimate of $709.41 million. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. The company’s revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts forecast that UL Solutions Inc. will post 1.53 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, November 29th.

Insider Activity at UL Solutions

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

ULS has been the subject of a number of research analyst reports. UBS Group increased their price target on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on shares of UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company upped their price target on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Citigroup initiated coverage on shares of UL Solutions in a research note on Monday, October 7th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Robert W. Baird upped their target price on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

UL Solutions Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.