Zacks Research Downgrades UL Solutions (NYSE:ULS) to Hold

UL Solutions (NYSE:ULS) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts also recently commented on ULS. The Goldman Sachs Group reissued a “neutral” rating on shares of UL Solutions in a research report on Wednesday, May 6th. Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a report on Wednesday, May 6th. Weiss Ratings upgraded UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 8th. UBS Group boosted their price target on UL Solutions from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Telsey Advisory Group set a $100.00 price objective on UL Solutions in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.54.

UL Solutions Stock Down 0.6%

ULS stock opened at $88.78 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $97.14 and a two-hundred day moving average price of $86.29. The company has a market cap of $17.89 billion, a price-to-earnings ratio of 51.92, a P/E/G ratio of 3.47 and a beta of 0.63. UL Solutions has a twelve month low of $61.64 and a twelve month high of $107.54.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $758.00 million for the quarter, compared to analysts’ expectations of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. Analysts anticipate that UL Solutions will post 2.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $99.22, for a total transaction of $1,240,250.00. Following the transaction, the chief executive officer owned 164,224 shares in the company, valued at approximately $16,294,305.28. This trade represents a 7.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alberto Uggetti sold 6,100 shares of UL Solutions stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $100.00, for a total value of $610,000.00. Following the sale, the executive vice president directly owned 10,307 shares of the company’s stock, valued at approximately $1,030,700. The trade was a 37.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,705 shares of company stock valued at $6,460,300 in the last ninety days. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UL Solutions

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors raised its stake in UL Solutions by 6.6% in the 4th quarter. Capital International Investors now owns 8,043,735 shares of the company’s stock worth $634,616,000 after purchasing an additional 495,424 shares in the last quarter. Vanguard Group Inc. raised its position in shares of UL Solutions by 21.9% in the fourth quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock valued at $531,567,000 after buying an additional 1,213,188 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of UL Solutions by 10.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock valued at $463,618,000 after buying an additional 545,528 shares during the period. Capital Research Global Investors boosted its stake in shares of UL Solutions by 20.6% in the third quarter. Capital Research Global Investors now owns 3,942,905 shares of the company’s stock valued at $279,394,000 after buying an additional 674,088 shares during the period. Finally, Janus Henderson Group PLC grew its position in UL Solutions by 1.8% during the fourth quarter. Janus Henderson Group PLC now owns 3,024,820 shares of the company’s stock worth $238,538,000 after buying an additional 54,910 shares in the last quarter.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.