UL Solutions (NYSE:ULS) Now Covered by Bank of America

Bank of America assumed coverage on shares of UL Solutions (NYSE:ULS) in a research report sent to investors on Tuesday. The brokerage issued a buy rating and a $86.00 price target on the stock.

A number of other brokerages have also recently issued reports on ULS. Robert W. Baird set a $97.00 target price on shares of UL Solutions and gave the company an “outperform” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $84.00 price objective (up previously from $70.00) on shares of UL Solutions in a report on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of UL Solutions in a research report on Monday, December 29th. The Goldman Sachs Group lifted their price target on shares of UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company increased their price target on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.88.

UL Solutions Stock Performance

ULS opened at $70.61 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33. The business has a fifty day simple moving average of $76.04 and a 200 day simple moving average of $74.96. UL Solutions has a 1 year low of $49.34 and a 1 year high of $91.95. The company has a market capitalization of $14.18 billion, a PE ratio of 42.28 and a beta of 1.11.

Hedge Funds Weigh In On UL Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its position in shares of UL Solutions by 48.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock worth $38,000 after buying an additional 171 shares during the last quarter. Assetmark Inc. bought a new position in shares of UL Solutions in the third quarter worth about $40,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after acquiring an additional 614 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the 1st quarter valued at approximately $49,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of UL Solutions by 28.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock valued at $53,000 after purchasing an additional 161 shares during the last quarter.

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.