UL Solutions Inc. (NYSE:ULS) to Issue Quarterly Dividend of $0.13

UL Solutions Inc. (NYSE:ULS) announced a quarterly dividend on Wednesday, November 13th,RTT News reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.125 per share on Monday, December 9th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.99%.

UL Solutions Stock Down 0.4 %

NYSE:ULS traded down $0.18 during trading hours on Thursday, reaching $50.66. 66,895 shares of the company were exchanged, compared to its average volume of 747,453. The business has a 50 day moving average of $50.83 and a 200 day moving average of $46.32. UL Solutions has a 1-year low of $33.15 and a 1-year high of $59.23. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85.

UL Solutions (NYSE:ULS) last released its earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.10. The company had revenue of $731.00 million for the quarter, compared to analyst estimates of $709.41 million. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. UL Solutions’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts anticipate that UL Solutions will post 1.53 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

About UL Solutions

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.