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

UL Solutions Inc. (NYSE:ULS) has been given an average recommendation of “Hold” by the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $101.54.

A number of brokerages recently commented on ULS. BNP Paribas Exane started coverage on shares of UL Solutions in a research note on Monday, April 20th. They issued a “neutral” rating and a $95.00 price objective on the stock. Wells Fargo & Company upped their target price on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on shares of UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of UL Solutions in a research note on Wednesday, May 6th. Finally, Telsey Advisory Group set a $100.00 target price on shares of UL Solutions in a report on Wednesday, May 6th.

Insider Transactions at UL Solutions

In other news, EVP Alberto Uggetti sold 6,100 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $100.00, for a total value of $610,000.00. Following the completion of the sale, the executive vice president directly owned 10,307 shares in the company, valued at approximately $1,030,700. The trade was a 37.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gitte Schjotz sold 9,865 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $96.98, for a total transaction of $956,707.70. Following the sale, the insider directly owned 59,341 shares in the company, valued at $5,754,890.18. This trade represents a 14.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,705 shares of company stock valued at $6,460,300 over the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of UL Solutions

Several hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in shares of UL Solutions by 349.3% during the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after buying an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of UL Solutions by 3,070.0% during the 2nd 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. Rhumbline Advisers purchased a new position in UL Solutions in the 1st quarter worth about $49,000. CIBC Private Wealth Group LLC increased its position in shares of UL Solutions by 112.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock worth $71,000 after acquiring an additional 479 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in UL Solutions by 42.4% during the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock worth $84,000 after purchasing an additional 245 shares in the last quarter.

UL Solutions Trading Up 0.9%

NYSE:ULS opened at $87.26 on Monday. The firm has a market cap of $17.59 billion, a P/E ratio of 51.03, a PEG ratio of 3.37 and a beta of 0.63. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. UL Solutions has a 12-month low of $61.64 and a 12-month high of $107.54. The stock’s 50 day simple moving average is $97.04 and its 200-day simple moving average is $86.41.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company 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 company earned $0.37 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts anticipate that UL Solutions will post 2.1 EPS for the current year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s dividend payout ratio is presently 33.92%.

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.