Brokerages Set UL Solutions Inc. (NYSE:ULS) PT at $50.80

UL Solutions Inc. (NYSE:ULS) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $51.45.

A number of equities analysts have issued reports on ULS shares. Wells Fargo & Company lifted their price objective on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. UBS Group raised their price objective on shares of UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Robert W. Baird increased their price objective on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price target on UL Solutions from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st.

Insider Activity at UL Solutions

In other news, insider Gitte Schjotz sold 5,941 shares of UL Solutions stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $52.58, for a total value of $312,377.78. Following the sale, the insider now directly owns 69,191 shares of the company’s stock, valued at approximately $3,638,062.78. The trade was a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On UL Solutions

Several large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of UL Solutions in the 3rd quarter valued at about $2,086,000. Victory Capital Management Inc. increased its position in shares of UL Solutions by 377.1% during the 3rd quarter. Victory Capital Management Inc. now owns 23,540 shares of the company’s stock valued at $1,161,000 after purchasing an additional 18,606 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in UL Solutions during the 3rd quarter valued at $9,615,000. Renaissance Capital LLC lifted its position in UL Solutions by 108.5% in the fourth quarter. Renaissance Capital LLC now owns 87,609 shares of the company’s stock worth $4,370,000 after buying an additional 45,595 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of UL Solutions by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after purchasing an additional 1,022,851 shares during the period.

UL Solutions Stock Performance

NYSE:ULS opened at $53.09 on Friday. The firm has a market capitalization of $10.62 billion and a P/E ratio of 32.77. UL Solutions has a twelve month low of $33.15 and a twelve month high of $59.23. The company has a fifty day moving average of $52.55 and a 200-day moving average of $52.02. 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 (NYSE:ULS) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.11. The business had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. As a group, sell-side analysts anticipate that UL Solutions will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 28th will be given a $0.13 dividend. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Friday, February 28th. UL Solutions’s dividend payout ratio is presently 32.10%.

UL Solutions Company 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.