UL Solutions (NYSE:ULS) Rating Increased to Strong-Buy at Baird R W

Baird R W upgraded shares of UL Solutions (NYSE:ULS) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. UBS Group raised their price objective on UL Solutions from $75.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of UL Solutions in a report on Monday, December 8th. Wells Fargo & Company lifted their price target on shares of UL Solutions from $77.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Robert W. Baird set a $97.00 price objective on shares of UL Solutions and gave the stock an “outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group raised their target price on shares of UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, UL Solutions has an average rating of “Moderate Buy” and an average price target of $85.14.

UL Solutions Stock Up 0.9%

ULS stock opened at $78.24 on Wednesday. The firm has a market cap of $15.72 billion, a PE ratio of 46.85 and a beta of 0.92. UL Solutions has a 1 year low of $48.54 and a 1 year high of $91.95. The company has a fifty day simple moving average of $81.60 and a 200 day simple moving average of $73.49. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45.

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

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Friday, November 28th were paid a $0.13 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is presently 31.14%.

Institutional Trading of UL Solutions

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of UL Solutions during the third quarter valued at about $97,803,000. Norges Bank acquired a new stake in UL Solutions during the second quarter worth about $89,174,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in UL Solutions during the first quarter valued at about $57,999,000. DekaBank Deutsche Girozentrale acquired a new position in UL Solutions in the 2nd quarter valued at approximately $52,396,000. Finally, Capital International Investors lifted its position in shares of UL Solutions by 10.8% in the 3rd quarter. Capital International Investors now owns 7,548,311 shares of the company’s stock worth $534,738,000 after acquiring an additional 738,720 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.