UL Solutions (NYSE:ULS) Announces Earnings Results

UL Solutions (NYSE:ULS - Get Free Report) issued its earnings results on Tuesday. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.05, Briefing.com reports. The company had revenue of $705.00 million during the quarter, compared to the consensus estimate of $704.19 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The firm's revenue was up 5.2% on a year-over-year basis.

UL Solutions Stock Performance

ULS opened at $67.03 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The firm has a market cap of $13.42 billion and a PE ratio of 41.38. The business has a fifty day simple moving average of $55.06 and a 200-day simple moving average of $53.32. UL Solutions has a fifty-two week low of $34.90 and a fifty-two week high of $68.85.

UL Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.78%. This is a boost from UL Solutions's previous quarterly dividend of $0.13. UL Solutions's dividend payout ratio is currently 32.10%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of UL Solutions from $60.00 to $60.50 and gave the company a "buy" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lifted their price target on UL Solutions from $55.00 to $58.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group increased their price objective on UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.45.

Insider Transactions at UL Solutions

In other news, EVP Alberto Uggetti sold 1,938 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $53.00, for a total transaction of $102,714.00. Following the sale, the executive vice president now owns 9,285 shares in the company, valued at $492,105. The trade was a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

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.