UL Solutions (NYSE:ULS) Sets New 52-Week High - Here's Why

UL Solutions Inc. (NYSE:ULS - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $59.79 and last traded at $59.19, with a volume of 75649 shares. The stock had previously closed at $58.39.

Analyst Ratings Changes

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

UL Solutions Stock Up 0.1 %

The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. The company has a 50-day simple moving average of $54.65 and a 200 day simple moving average of $53.18. The company has a market cap of $11.99 billion and a P/E ratio of 36.99.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.11. The company had revenue of $739.00 million during the quarter, compared to analyst estimates of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. On average, equities analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This is an increase from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 0.87%. The ex-dividend date was Friday, February 28th. UL Solutions's dividend payout ratio (DPR) is presently 32.10%.

Insiders Place Their Bets

In related news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction dated Friday, March 7th. The stock was 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 $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 SEC, which is available through the SEC website. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On UL Solutions

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in UL Solutions by 29.3% during the third 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 during the period. Baker Chad R increased its holdings in shares of UL Solutions by 91.0% in the 4th quarter. Baker Chad R now owns 112,300 shares of the company's stock valued at $5,602,000 after acquiring an additional 53,500 shares during the period. Hall Laurie J Trustee raised its position in shares of UL Solutions by 10.3% in the 4th quarter. Hall Laurie J Trustee now owns 54,050 shares of the company's stock worth $2,696,000 after acquiring an additional 5,040 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of UL Solutions by 20.7% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 235,501 shares of the company's stock worth $11,726,000 after purchasing an additional 40,396 shares during the last quarter. Finally, KBC Group NV bought a new stake in UL Solutions during the fourth quarter valued at about $163,000.

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.