UL Solutions (NYSE:ULS) Reaches New 12-Month High - Here's Why

Key Points

• UL Solutions Inc. stock reached a new 52-week high of $74.32 during trading, closing at $73.61, indicating strong market performance.
• Analysts have issued mixed ratings on the stock, with four rating it as a Buy and four as a Hold, reflecting a consensus rating of Moderate Buy and an average target price of $70.86.
• The company reported a quarterly EPS of $0.52, exceeding analysts' expectations and reflecting a year-over-year revenue increase of 6.3%.

UL Solutions Inc. (NYSE:ULS - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $74.32 and last traded at $73.61, with a volume of 6971 shares traded. The stock had previously closed at $73.46.

Analyst Upgrades and Downgrades

Several research firms have commented on ULS. JPMorgan Chase & Co. upped their price objective on shares of UL Solutions from $64.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. UBS Group cut their price target on UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of UL Solutions in a report on Saturday, September 27th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $70.86.

UL Solutions Stock Performance

The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55. The company has a market cap of $14.88 billion, a price-to-earnings ratio of 45.75 and a beta of 1.04. The stock has a 50 day simple moving average of $67.42 and a 200 day simple moving average of $66.34.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.05. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%.The company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $771.55 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The company's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 29th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 29th. UL Solutions's dividend payout ratio is 32.10%.

Institutional Investors Weigh In On UL Solutions

A number of institutional investors have recently made changes to their positions in ULS. T. Rowe Price Investment Management Inc. grew its position in shares of UL Solutions by 7.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,530,367 shares of the company's stock worth $255,513,000 after buying an additional 305,658 shares during the period. JPMorgan Chase & Co. grew its stake in shares of UL Solutions by 1.9% during the first quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company's stock worth $252,333,000 after acquiring an additional 82,261 shares during the last quarter. Bessemer Group Inc. boosted its position in UL Solutions by 32.2% in the 2nd quarter. Bessemer Group Inc. now owns 1,889,787 shares of the company's stock worth $137,689,000 after purchasing an additional 460,394 shares in the last quarter. Norges Bank acquired a new position in shares of UL Solutions during the 2nd quarter worth approximately $89,174,000. Finally, Conestoga Capital Advisors LLC raised its stake in UL Solutions by 64.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,169,274 shares of the company's stock valued at $85,193,000 after purchasing an additional 458,972 shares during the last quarter.

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.

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