Brokerages Set UL Solutions Inc. (NYSE:ULS) Price Target at $69.43

UL Solutions Inc. (NYSE:ULS) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $69.43.

ULS has been the subject of a number of analyst reports. Raymond James boosted their price objective on shares of UL Solutions from $60.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Citigroup reissued a “neutral” rating and set a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. UBS Group boosted their target price on shares of UL Solutions from $58.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group boosted their target price on shares of UL Solutions from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their price objective on UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th.

Insider Activity at UL Solutions

In related news, insider Gitte Schjotz sold 7,000 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. Following the completion of the transaction, the insider now directly owns 46,889 shares in the company, valued at approximately $3,162,194.16. This represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alberto Uggetti sold 1,961 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total value of $137,270.00. Following the completion of the transaction, the executive vice president now owns 9,285 shares of the company’s stock, valued at $649,950. The trade was a 17.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UL Solutions

Hedge funds have recently made changes to their positions in the business. Elequin Capital LP acquired a new position in shares of UL Solutions in the 1st quarter valued at $31,000. Quarry LP acquired a new position in UL Solutions in the fourth quarter worth about $32,000. PNC Financial Services Group Inc. raised its position in UL Solutions by 653.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company’s stock worth $33,000 after purchasing an additional 582 shares in the last quarter. Rhumbline Advisers acquired a new position in UL Solutions in the first quarter worth about $49,000. Finally, Northwest & Ethical Investments L.P. raised its holdings in shares of UL Solutions by 23.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company’s stock worth $105,000 after buying an additional 400 shares in the last quarter.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $71.18 on Friday. UL Solutions has a fifty-two week low of $38.50 and a fifty-two week high of $72.81. The business has a 50-day moving average of $63.32 and a two-hundred day moving average of $56.43. The stock has a market capitalization of $14.27 billion, a P/E ratio of 43.94 and a beta of 1.21. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31.

UL Solutions (NYSE:ULS) last posted its earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The firm had revenue of $705.00 million during the quarter, compared to analyst estimates of $704.19 million. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts predict that UL Solutions will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Friday, May 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, May 30th. UL Solutions’s payout ratio is currently 31.14%.

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.