UL Solutions Inc. (NYSE:ULS) Stock Has Consensus Price Target of $95.88

UL Solutions Inc. (NYSE:ULS) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $95.88.

ULS has been the topic of a number of recent analyst reports. Robert W. Baird lowered their target price on UL Solutions from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, September 24th. The Goldman Sachs Group set a $86.00 price target on shares of UL Solutions in a research report on Wednesday, August 5th. William Blair restated an “outperform” rating on shares of UL Solutions in a report on Monday, September 21st. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Citigroup lowered their price objective on shares of UL Solutions from $106.40 to $82.80 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th.

UL Solutions Stock Up 0.5%

UL Solutions stock opened at $73.34 on Wednesday. UL Solutions has a fifty-two week low of $63.17 and a fifty-two week high of $107.54. The stock has a market cap of $14.81 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 3.03 and a beta of 0.72. The firm’s 50-day simple moving average is $71.09 and its 200 day simple moving average is $84.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%. The business had revenue of $816.00 million for the quarter, compared to analyst estimates of $813.62 million. During the same period last year, the company posted $0.52 earnings per share. UL Solutions’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts predict that UL Solutions will post 2.09 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were given a dividend of $0.1450 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 31st. UL Solutions’s dividend payout ratio is currently 23.48%.

Insider Activity

In other news, CEO Jennifer Scanlon sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $70.08, for a total transaction of $876,000.00. Following the completion of the sale, the chief executive officer owned 126,724 shares in the company, valued at $8,880,817.92. This trade represents a 8.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 37,500 shares of company stock worth $2,947,750. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On UL Solutions

Institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its stake in shares of UL Solutions by 10.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock worth $463,618,000 after acquiring an additional 545,528 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in UL Solutions in the 4th quarter worth about $35,109,000. Ranger Investment Management L.P. bought a new stake in UL Solutions in the 2nd quarter valued at about $42,598,000. Allspring Global Investments Holdings LLC raised its stake in UL Solutions by 12.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,744,523 shares of the company’s stock valued at $147,534,000 after acquiring an additional 193,610 shares during the period. Finally, Fenimore Asset Management Inc bought a new stake in UL Solutions in the 3rd quarter valued at about $11,664,000.

About UL Solutions

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that provides testing, inspection, certification, and advisory services. The company helps manufacturers, retailers, regulators, and other organizations evaluate the safety, security, performance, quality, and sustainability of products, facilities, and systems.

Its services cover a broad range of industries, including consumer products, industrial equipment, energy, mobility, information technology, and the built environment.