UL Solutions (NYSE:ULS) Given New $87.80 Price Target at Citigroup

UL Solutions (NYSE:ULS) had its price target trimmed by Citigroup from $88.10 to $87.80 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also commented on ULS. Weiss Ratings lowered shares of UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on UL Solutions from $84.00 to $88.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Robert W. Baird decreased their target price on UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a report on Friday. Wells Fargo & Company upped their price target on UL Solutions from $97.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a research note on Friday. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $87.60.

UL Solutions Price Performance

UL Solutions stock opened at $80.71 on Tuesday. The company’s 50 day simple moving average is $76.15 and its 200-day simple moving average is $75.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. 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 $16.21 billion, a price-to-earnings ratio of 50.76, a price-to-earnings-growth ratio of 3.41 and a beta of 1.11.

UL Solutions (NYSE:ULS) last posted its earnings results on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. UL Solutions had a net margin of 10.61% and a return on equity of 31.62%. The firm had revenue of $789.00 million during the quarter, compared to the consensus estimate of $782.37 million. During the same quarter last year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities research analysts expect that UL Solutions will post 1.69 earnings per share for the current year.

UL Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Monday, March 2nd will be paid a dividend of $0.145 per share. The ex-dividend date is Monday, March 2nd. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is presently 32.70%.

Institutional Trading of UL Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new position in shares of UL Solutions in the 4th quarter valued at $715,000. Arrow Capital Management LLC acquired a new position in UL Solutions in the fourth quarter valued at $5,773,000. T. Rowe Price Investment Management Inc. increased its position in shares of UL Solutions by 10.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock worth $463,618,000 after purchasing an additional 545,528 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of UL Solutions by 399.2% in the 4th quarter. Invesco Ltd. now owns 124,396 shares of the company’s stock valued at $9,810,000 after purchasing an additional 99,478 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of UL Solutions in the 4th quarter valued at about $1,644,000.

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.