Brokerages Set UL Solutions Inc. (NYSE:ULS) Target Price at $49.00

UL Solutions Inc. (NYSE:ULS) has been given a consensus rating of “Moderate Buy” by the twelve analysts that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $49.00.

ULS has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. UBS Group increased their price objective on shares of UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup assumed coverage on shares of UL Solutions in a report on Monday, October 7th. They issued a “buy” rating and a $60.00 target price for the company. The Goldman Sachs Group increased their price target on shares of UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird raised their price target on shares of UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $53.64 on Friday. The stock’s 50-day moving average price is $51.57 and its 200-day moving average price is $47.50. 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 has a 12-month low of $33.15 and a 12-month high of $59.23.

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

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be given a $0.125 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.93%.

Insider Transactions at UL Solutions

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On UL Solutions

A number of institutional investors have recently modified their holdings of ULS. Geode Capital Management LLC increased its holdings in UL Solutions by 55.2% in the 3rd quarter. Geode Capital Management LLC now owns 600,936 shares of the company’s stock worth $29,639,000 after acquiring an additional 213,635 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of UL Solutions in the third quarter valued at about $395,000. XTX Topco Ltd increased its stake in shares of UL Solutions by 15.5% during the third quarter. XTX Topco Ltd now owns 7,733 shares of the company’s stock worth $381,000 after purchasing an additional 1,035 shares in the last quarter. Zimmer Partners LP raised its position in shares of UL Solutions by 136.7% during the 3rd quarter. Zimmer Partners LP now owns 710,000 shares of the company’s stock worth $35,003,000 after purchasing an additional 410,000 shares during the last quarter. Finally, Soros Fund Management LLC lifted its stake in UL Solutions by 127.4% in the 3rd quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company’s stock valued at $56,058,000 after buying an additional 637,077 shares in the last quarter.

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.