Analysts Set UL Solutions Inc. (NYSE:ULS) Target Price at $70.86

UL Solutions Inc. (NYSE:ULS) has earned an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $70.8571.

Several research analysts have commented on ULS shares. Raymond James Financial lifted their price target on shares of UL Solutions from $60.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. UBS Group decreased their price target on shares of UL Solutions from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Citigroup reissued a “neutral” rating and set a $71.00 price target (up from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Wells Fargo & Company raised their target price on shares of UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of UL Solutions from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th.

UL Solutions Stock Up 0.5%

ULS stock opened at $67.17 on Friday. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 41.46 and a beta of 1.00. UL Solutions has a 1-year low of $46.79 and a 1-year high of $74.15. The company’s 50 day moving average is $70.38 and its 200 day moving average is $62.96. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55.

UL Solutions (NYSE:ULS) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. The firm had revenue of $776.00 million for the quarter, compared to the consensus estimate of $771.55 million. UL Solutions had a net margin of 11.08% and a return on equity of 37.33%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. Sell-side analysts predict that UL Solutions will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 30th were issued a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.8%. UL Solutions’s dividend payout ratio (DPR) is currently 32.10%.

Institutional Trading of UL Solutions

Several large investors have recently added to or reduced their stakes in the stock. Cresset Asset Management LLC boosted its holdings in UL Solutions by 4.0% in the second quarter. Cresset Asset Management LLC now owns 4,174 shares of the company’s stock valued at $304,000 after acquiring an additional 159 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in UL Solutions by 28.2% in the second quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock valued at $53,000 after acquiring an additional 161 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in UL Solutions by 48.4% in the second quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after acquiring an additional 171 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in UL Solutions by 1.2% during the second quarter. KLP Kapitalforvaltning AS now owns 17,100 shares of the company’s stock valued at $1,246,000 after buying an additional 200 shares during the period. Finally, Hall Laurie J Trustee lifted its position in UL Solutions by 0.6% during the second quarter. Hall Laurie J Trustee now owns 56,405 shares of the company’s stock valued at $4,110,000 after buying an additional 350 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.