UL Solutions (NYSE:ULS) Reaches New 52-Week High After Analyst Upgrade

UL Solutions Inc. (NYSE:ULS) shares hit 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.

Several other brokerages have also recently weighed in on ULS. Wells Fargo & Company boosted their price objective on UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup increased their price target on UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a report on Tuesday, February 25th. Raymond James boosted their price objective on shares of UL Solutions from $60.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group raised their target price on shares of UL Solutions from $58.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.93.

Insider Transactions at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at $492,105. The trade was a 17.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ULS. Picton Mahoney Asset Management increased its stake in shares of UL Solutions by 3.4% during the first quarter. Picton Mahoney Asset Management now owns 118,617 shares of the company’s stock valued at $6,689,000 after buying an additional 3,896 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of UL Solutions by 5.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,338 shares of the company’s stock worth $1,034,000 after purchasing an additional 900 shares during the period. TD Asset Management Inc boosted its stake in shares of UL Solutions by 8.7% during the first quarter. TD Asset Management Inc now owns 261,860 shares of the company’s stock valued at $14,769,000 after purchasing an additional 20,906 shares in the last quarter. Legato Capital Management LLC increased its holdings in UL Solutions by 40.7% during the first quarter. Legato Capital Management LLC now owns 19,265 shares of the company’s stock valued at $1,087,000 after buying an additional 5,570 shares during the period. Finally, KLP Kapitalforvaltning AS raised its stake in UL Solutions by 39.7% in the first quarter. KLP Kapitalforvaltning AS now owns 16,900 shares of the company’s stock worth $953,000 after buying an additional 4,800 shares in the last quarter.

UL Solutions Stock Performance

The business has a fifty day simple moving average of $55.40 and a two-hundred day simple moving average of $53.44. The company has a market cap of $14.01 billion and a PE ratio of 43.20. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31.

UL Solutions (NYSE:ULS) last posted its earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $705.00 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. Research analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Increases Dividend

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

UL Solutions Company Profile

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.