Brokerages Set UL Solutions Inc. (NYSE:ULS) PT at $69.43

Shares of UL Solutions Inc. (NYSE:ULS - Get Free Report) have received an average recommendation of "Hold" from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $69.43.

Several research firms have commented on ULS. Wells Fargo & Company upped their price objective on shares of UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. The Goldman Sachs Group upped their price target on shares of UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Raymond James increased their price target on shares of UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. UBS Group boosted their price objective on UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, February 21st.

Insiders Place Their Bets

In other news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the completion of the sale, the executive vice president now directly owns 9,285 shares in the company, valued at approximately $492,105. The trade was a 17.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gitte Schjotz sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total value of $472,080.00. Following the completion of the sale, the insider now owns 46,889 shares of the company's stock, valued at approximately $3,162,194.16. This trade represents a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,899 shares of company stock worth $712,064 in the last quarter. Corporate insiders own 1.20% of the company's stock.

Institutional Trading of UL Solutions

A number of institutional investors have recently modified their holdings of ULS. Norges Bank acquired a new position in UL Solutions in the fourth quarter valued at about $173,869,000. T. Rowe Price Investment Management Inc. grew its stake in UL Solutions by 88.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company's stock worth $210,729,000 after buying an additional 1,987,295 shares in the last quarter. Bessemer Group Inc. bought a new position in UL Solutions in the 1st quarter valued at about $80,618,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of UL Solutions in the 1st quarter valued at approximately $57,999,000. Finally, JPMorgan Chase & Co. raised its position in shares of UL Solutions by 29.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after buying an additional 1,022,851 shares in the last quarter.

UL Solutions Stock Performance

NYSE ULS traded up $1.75 during trading on Friday, reaching $71.85. 621,456 shares of the company's stock were exchanged, compared to its average volume of 760,531. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The business has a 50 day moving average price of $62.76 and a 200-day moving average price of $56.13. The stock has a market capitalization of $14.41 billion, a P/E ratio of 44.35 and a beta of 1.21. UL Solutions has a fifty-two week low of $38.34 and a fifty-two week high of $72.81.

UL Solutions (NYSE:ULS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The business had revenue of $705.00 million for the quarter, compared to analyst estimates of $704.19 million. UL Solutions's revenue was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that UL Solutions will post 1.69 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Friday, May 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Friday, May 30th. UL Solutions's dividend payout ratio is currently 31.14%.

UL Solutions Company Profile

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.