UL Solutions (NYSE:ULS) Price Target Lowered to $104.00 at Wells Fargo & Company

Key Points

• Wells Fargo lowered UL Solutions’ price target to $104 from $120 while maintaining an “overweight” rating, implying roughly 33% upside from the stock’s prior close.
• Analyst sentiment remains generally positive: UL Solutions has a consensus “Moderate Buy” rating and an average price target of $99.84, based on six Buy and five Hold ratings.
• UL Solutions exceeded quarterly expectations, reporting $0.59 in EPS versus $0.56 expected and $816 million in revenue, up 5.2% year over year. The stock traded at $78.22, down 0.2%.

UL Solutions (NYSE:ULS - Get Free Report) had its price target dropped by equities researchers at Wells Fargo & Company from $120.00 to $104.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 32.96% from the company's previous close.

Other research analysts have also issued reports about the company. Telsey Advisory Group set a $100.00 target price on UL Solutions in a research report on Wednesday, May 6th. Robert W. Baird set a $95.00 price target on UL Solutions in a report on Wednesday. The Goldman Sachs Group restated a "neutral" rating on shares of UL Solutions in a research note on Wednesday, May 6th. BNP Paribas Exane began coverage on shares of UL Solutions in a report on Monday, April 20th. They set a "neutral" rating and a $95.00 price objective on the stock. Finally, Zacks Research lowered shares of UL Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $99.84.

UL Solutions Stock Down 0.2%

NYSE:ULS traded down $0.12 during midday trading on Wednesday, reaching $78.22. 422,014 shares of the stock traded hands, compared to its average volume of 952,265. The stock has a market capitalization of $15.77 billion, a PE ratio of 45.74, a price-to-earnings-growth ratio of 3.50 and a beta of 0.71. UL Solutions has a 12-month low of $61.64 and a 12-month high of $107.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. The business has a 50-day moving average of $92.95 and a two-hundred day moving average of $87.34.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The business had revenue of $816.00 million for the quarter, compared to analyst estimates of $813.62 million. During the same period in the previous year, the company earned $0.52 earnings per share. The business's revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts forecast that UL Solutions will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Alberto Uggetti sold 6,100 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $100.00, for a total value of $610,000.00. Following the sale, the executive vice president directly owned 10,307 shares of the company's stock, valued at $1,030,700. This represents a 37.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $99.22, for a total transaction of $1,240,250.00. Following the completion of the sale, the chief executive officer owned 164,224 shares in the company, valued at $16,294,305.28. The trade was a 7.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,205 shares of company stock worth $5,315,675 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. lifted its holdings in UL Solutions by 543.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 192,915 shares of the company's stock valued at $15,213,000 after acquiring an additional 162,915 shares during the period. Legal & General Group Plc lifted its holdings in UL Solutions by 78.6% during the fourth quarter. Legal & General Group Plc now owns 103,331 shares of the company's stock valued at $8,149,000 after purchasing an additional 45,467 shares in the last quarter. Geode Capital Management LLC boosted its holdings in UL Solutions by 21.9% in the 4th quarter. Geode Capital Management LLC now owns 1,282,676 shares of the company's stock worth $101,174,000 after buying an additional 230,660 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in shares of UL Solutions in the fourth quarter worth approximately $1,646,000. Finally, Thrivent Financial for Lutherans boosted its stake in UL Solutions by 9,024.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 337,881 shares of the company's stock worth $26,645,000 after purchasing an additional 334,178 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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