UL Solutions Inc. (NYSE:ULS) Given Average Rating of “Hold” by Brokerages

Shares of UL Solutions Inc. (NYSE:ULS) have been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $69.43.

ULS has been the subject of a number of analyst reports. UBS Group raised 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, May 7th. Wells Fargo & Company raised 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, May 7th. Citigroup restated a “neutral” rating and set a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. The Goldman Sachs Group lifted their price objective on UL Solutions from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Raymond James Financial lifted their price target on shares of UL Solutions from $60.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th.

Insiders Place Their Bets

In other UL Solutions news, insider Gitte Schjotz sold 7,000 shares of UL Solutions stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total transaction of $472,080.00. Following the completion of the transaction, the insider now directly owns 46,889 shares of the company’s stock, valued at $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alberto Uggetti sold 1,961 shares of UL Solutions stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $70.00, for a total transaction of $137,270.00. Following the sale, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at $649,950. The trade was a 17.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On UL Solutions

Institutional investors have recently made changes to their positions in the company. Capital International Investors boosted its position 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 valued at $583,324,000 after acquiring an additional 809,779 shares during the period. Vanguard Group Inc. lifted its position in shares of UL Solutions by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company’s stock valued at $278,016,000 after acquiring an additional 401,492 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of UL Solutions by 7.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,530,367 shares of the company’s stock valued at $255,513,000 after acquiring an additional 305,658 shares during the period. JPMorgan Chase & Co. lifted its position in UL Solutions by 1.9% during the first quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company’s stock worth $252,333,000 after purchasing an additional 82,261 shares during the period. Finally, FMR LLC lifted its position in UL Solutions by 17.2% during 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.

UL Solutions Stock Down 3.2%

Shares of UL Solutions stock opened at $70.55 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average price of $67.33 and a two-hundred day moving average price of $57.95. The stock has a market capitalization of $14.15 billion, a P/E ratio of 42.25 and a beta of 1.21. UL Solutions has a 12-month low of $39.86 and a 12-month high of $73.98.

UL Solutions (NYSE:ULS) last announced its earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The firm had revenue of $705.00 million during the quarter, compared to the consensus estimate of $704.19 million. The business’s revenue was up 5.2% on a year-over-year basis. Equities analysts expect that UL Solutions will post 1.69 earnings per share for the current year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, May 30th. UL Solutions’s dividend payout ratio (DPR) is presently 31.14%.

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.