UL Solutions (NYSE:ULS) Price Target Raised to $63.00 at The Goldman Sachs Group

UL Solutions (NYSE:ULS) had its price target upped by stock analysts at The Goldman Sachs Group from $57.00 to $63.00 in a report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 10.52% from the company’s previous close.

ULS has been the topic of several other research reports. Citigroup lifted their target price on UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. upped their price objective on shares of UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Raymond James lifted their target price on shares of UL Solutions from $60.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on shares of UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group lifted their price objective on UL Solutions from $58.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.93.

UL Solutions Stock Up 0.6 %

Shares of NYSE:ULS opened at $70.41 on Wednesday. The firm has a 50 day simple moving average of $55.77 and a 200 day simple moving average of $53.56. UL Solutions has a 52 week low of $35.60 and a 52 week high of $71.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $14.09 billion and a PE ratio of 43.46.

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

Insiders Place Their Bets

In related news, EVP Alberto Uggetti sold 1,938 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the transaction, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at approximately $492,105. This trade represents a 17.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On UL Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors lifted its stake in shares of UL Solutions by 7.4% in the fourth quarter. Capital International Investors now owns 11,691,957 shares of the company’s stock worth $583,324,000 after buying an additional 809,779 shares during the last quarter. Vanguard Group Inc. lifted its position in UL Solutions by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company’s stock worth $278,016,000 after acquiring an additional 401,492 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in UL Solutions by 29.3% during the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock valued at $222,658,000 after acquiring an additional 1,022,851 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of UL Solutions by 88.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company’s stock valued at $210,729,000 after purchasing an additional 1,987,295 shares during the last quarter. Finally, FMR LLC increased its stake in shares of UL Solutions by 17.2% in the fourth quarter. FMR LLC now owns 4,178,072 shares of the company’s stock worth $208,402,000 after purchasing an additional 612,834 shares during the period.

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.