UL Solutions Inc. (NYSE:ULS) Receives Average Rating of “Moderate Buy” from Brokerages

UL Solutions Inc. (NYSE:ULS) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $96.78.

A number of research analysts recently commented on the company. Robert W. Baird set a $95.00 price target on UL Solutions in a report on Wednesday, August 5th. Weiss Ratings raised shares of UL Solutions from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of UL Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. UBS Group lowered their target price on shares of UL Solutions from $110.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th.

Insiders Place Their Bets

In other news, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $92.08, for a total transaction of $1,151,000.00. Following the completion of the transaction, the chief executive officer directly owned 151,724 shares in the company, valued at approximately $13,970,745.92. This represents a 7.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Karen K. Pepping sold 725 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $97.74, for a total transaction of $70,861.50. Following the completion of the transaction, the chief accounting officer directly owned 8,082 shares of the company’s stock, valued at approximately $789,934.68. This trade represents a 8.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,605 shares of company stock valued at $4,616,835 in the last quarter. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UL Solutions

Several institutional investors have recently bought and sold shares of ULS. Royal Bank of Canada grew its stake in shares of UL Solutions by 119.5% in the 1st quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock worth $8,090,000 after buying an additional 78,081 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of UL Solutions by 104.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock valued at $25,953,000 after buying an additional 234,913 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of UL Solutions by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock valued at $6,981,000 after acquiring an additional 13,205 shares during the last quarter. Rhumbline Advisers bought a new position in shares of UL Solutions in the 1st quarter valued at about $49,000. Finally, Creative Planning purchased a new position in UL Solutions in the second quarter worth about $208,000.

UL Solutions Price Performance

NYSE:ULS opened at $73.97 on Tuesday. The business’s 50-day simple moving average is $86.85 and its two-hundred day simple moving average is $87.74. UL Solutions has a 52 week low of $61.64 and a 52 week high of $107.54. The stock has a market cap of $14.93 billion, a PE ratio of 29.95, a P/E/G ratio of 3.12 and a beta of 0.71. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%.The firm had revenue of $816.00 million during the quarter, compared to analyst estimates of $813.62 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts forecast that UL Solutions will post 2.08 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. UL Solutions’s dividend payout ratio (DPR) is currently 23.48%.

About UL Solutions

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.