UL Solutions (NYSE:ULS) Sets New 12-Month High After Analyst Upgrade

UL Solutions Inc. (NYSE:ULS)’s share price reached a new 52-week high during mid-day trading on Thursday after Robert W. Baird raised their price target on the stock from $60.00 to $73.00. Robert W. Baird currently has a neutral rating on the stock. UL Solutions traded as high as $71.89 and last traded at $69.98, with a volume of 2097643 shares. The stock had previously closed at $67.33.

Other equities analysts have also recently issued research reports about the stock. Raymond James raised their target price on shares of UL Solutions from $60.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company increased their target price on UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup boosted their price target on shares of UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a report on Tuesday, February 25th. UBS Group increased their price objective on shares of UL Solutions from $58.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.93.

Insider Activity at UL Solutions

In other news, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the completion of the transaction, the executive vice president now directly owns 9,285 shares in the company, valued at $492,105. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UL Solutions

A number of institutional investors have recently added to or reduced their stakes in ULS. Quarry LP bought a new stake in shares of UL Solutions in the 4th quarter worth $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 acquiring an additional 582 shares in the last quarter. Rhumbline Advisers acquired a new stake in UL Solutions in the 1st quarter valued at about $49,000. Northwest & Ethical Investments L.P. lifted its holdings in UL Solutions by 23.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company’s stock valued at $105,000 after acquiring an additional 400 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of UL Solutions during the 4th quarter valued at about $163,000.

UL Solutions Price Performance

The company has a market cap of $14.09 billion and a price-to-earnings ratio of 43.46. The company’s 50 day moving average price is $55.77 and its 200-day moving average price is $53.56. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31.

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

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, February 28th. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s payout ratio is presently 32.10%.

About UL Solutions

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.