UL Solutions (NYSE:ULS) Cut to Hold at Zacks Research

Zacks Research downgraded shares of UL Solutions (NYSE:ULS) from a strong-buy rating to a hold rating in a report published on Thursday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. UBS Group decreased their price target on shares of UL Solutions from $96.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. Wells Fargo & Company raised their target price on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Robert W. Baird set a $97.00 price target on UL Solutions and gave the company an “outperform” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $84.00 price objective (up from $70.00) on shares of UL Solutions in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of UL Solutions in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.57.

UL Solutions Price Performance

Shares of ULS opened at $70.11 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. The stock has a market cap of $14.08 billion, a PE ratio of 41.98 and a beta of 1.09. UL Solutions has a 12-month low of $49.34 and a 12-month high of $91.95. The business has a 50-day simple moving average of $79.28 and a two-hundred day simple moving average of $74.93.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The firm had revenue of $783.00 million for the quarter, compared to analyst estimates of $769.01 million. During the same period last year, the firm posted $0.49 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts anticipate that UL Solutions will post 1.69 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Friday, November 28th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, November 28th. UL Solutions’s payout ratio is presently 31.14%.

Institutional Investors Weigh In On UL Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of ULS. TD Private Client Wealth LLC acquired a new position in UL Solutions during the 3rd quarter worth approximately $1,681,000. Allspring Global Investments Holdings LLC bought a new stake in shares of UL Solutions during the third quarter valued at approximately $97,803,000. Voya Investment Management LLC acquired a new position in shares of UL Solutions during the third quarter worth approximately $24,627,000. Rakuten Investment Management Inc. bought a new position in shares of UL Solutions in the 3rd quarter worth $1,436,000. Finally, Elo Mutual Pension Insurance Co grew its position in UL Solutions by 26.4% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 13,823 shares of the company’s stock valued at $1,007,000 after purchasing an additional 2,884 shares during the period.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.