UL Solutions Inc. (NYSE:ULS) Receives $101.54 Average PT from Brokerages

Shares of UL Solutions Inc. (NYSE:ULS) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $101.54.

A number of brokerages recently commented on ULS. Wells Fargo & Company boosted their price objective on shares of UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of UL Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Robert W. Baird lowered their price objective on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Zacks Research raised shares of UL Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Finally, Citigroup boosted their price objective on shares of UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a research report on Thursday, May 7th.

UL Solutions Stock Up 0.1%

ULS stock opened at $96.98 on Thursday. UL Solutions has a 52-week low of $61.64 and a 52-week high of $107.54. The company’s 50 day simple moving average is $95.03 and its 200-day simple moving average is $84.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $19.55 billion, a P/E ratio of 56.71, a P/E/G ratio of 3.77 and a beta of 0.63.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The business had revenue of $758.00 million for the quarter, compared to analyst estimates of $748.50 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts anticipate that UL Solutions will post 2.1 EPS for the current year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were given a dividend of $0.145 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a yield of 0.6%. UL Solutions’s payout ratio is presently 33.92%.

Insider Activity

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $91.57, for a total transaction of $1,144,625.00. Following the transaction, the chief executive officer directly owned 188,274 shares of the company’s stock, valued at approximately $17,240,250.18. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alberto Uggetti sold 6,100 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $100.00, for a total transaction of $610,000.00. Following the transaction, the executive vice president directly owned 10,307 shares in the company, valued at $1,030,700. The trade was a 37.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 65,705 shares of company stock valued at $6,288,800 in the last three months. 1.20% of the stock is currently owned by insiders.

Institutional Trading of UL Solutions

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its position in UL Solutions by 349.3% in the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after acquiring an additional 234 shares in the last quarter. Assetmark Inc. bought a new stake in UL Solutions in the third quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. grew its position in 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 in the last quarter. PNC Financial Services Group Inc. grew its position in UL Solutions by 18.2% in the third quarter. PNC Financial Services Group Inc. now owns 864 shares of the company’s stock worth $61,000 after acquiring an additional 133 shares in the last quarter. Finally, Rhumbline Advisers bought a new stake in UL Solutions in the first quarter worth approximately $49,000.

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.