Bank of America Initiates Coverage on UL Solutions (NYSE:ULS)

Analysts at Bank of America initiated coverage on shares of UL Solutions (NYSE:ULS) in a research report issued on Tuesday. The firm set a “buy” rating and a $86.00 price target on the stock. Bank of America‘s price target points to a potential upside of 20.28% from the stock’s current price.

A number of other research firms also recently commented on ULS. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $84.00 target price (up from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. UBS Group decreased their price objective on shares of UL Solutions from $96.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of UL Solutions in a report on Monday, December 29th. Zacks Research cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Finally, Robert W. Baird set a $97.00 price target on shares of UL Solutions and gave the company an “outperform” rating in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.88.

UL Solutions Price Performance

ULS stock opened at $71.50 on Tuesday. The firm has a 50 day moving average of $75.93 and a 200-day moving average of $74.93. The company has a market cap of $14.36 billion, a price-to-earnings ratio of 42.81 and a beta of 1.11. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. UL Solutions has a 12-month low of $49.34 and a 12-month high of $91.95.

Institutional Trading of UL Solutions

A number of hedge funds have recently bought and sold shares of the company. Capital International Investors raised its holdings in UL Solutions by 6.6% in the 4th quarter. Capital International Investors now owns 8,043,735 shares of the company’s stock valued at $634,616,000 after acquiring an additional 495,424 shares during the last quarter. Vanguard Group Inc. grew 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 purchasing an additional 1,213,188 shares during the period. Capital Research Global Investors increased its stake in 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 purchasing an additional 674,088 shares during the last quarter. Janus Henderson Group PLC increased its stake in UL Solutions by 1.8% in the fourth quarter. Janus Henderson Group PLC now owns 3,024,820 shares of the company’s stock valued at $238,538,000 after purchasing an additional 54,910 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in UL Solutions by 3.3% during the fourth quarter. Bessemer Group Inc. now owns 2,221,669 shares of the company’s stock worth $175,203,000 after buying an additional 70,279 shares during the period.

About UL Solutions

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.