UL Solutions (NYSE:ULS) Sees Large Volume Increase

Shares of UL Solutions Inc. (NYSE:ULS) saw an uptick in trading volume on Friday . 1,039,299 shares traded hands during mid-day trading, an increase of 68% from the previous session’s volume of 617,511 shares.The stock last traded at $49.46 and had previously closed at $49.90.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ULS. Baird R W lowered shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Wells Fargo & Company increased their price objective on shares of UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their target price on UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Robert W. Baird increased their price target on UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price objective on UL Solutions from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, UL Solutions currently has an average rating of “Moderate Buy” and an average target price of $43.90.

UL Solutions Price Performance

The stock has a 50-day simple moving average of $48.56. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick ratio of 1.29.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.06. The firm had revenue of $730.00 million during the quarter, compared to analysts’ expectations of $718.73 million. UL Solutions’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts predict that UL Solutions Inc. will post 1.48 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, August 30th.

Institutional Investors Weigh In On UL Solutions

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

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.