UL Solutions (NYSE:ULS) Sees Strong Trading Volume - Should You Buy?

UL Solutions Inc. (NYSE:ULS - Get Free Report) shares saw strong trading volume on Tuesday . 2,239,332 shares were traded during trading, an increase of 212% from the previous session's volume of 718,776 shares.The stock last traded at $56.83 and had previously closed at $57.33.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Citigroup upped their price objective on shares of UL Solutions from $60.00 to $60.50 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of UL Solutions from $55.00 to $58.00 and gave the company 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 given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.45.

UL Solutions Trading Up 2.2 %

The firm has a market cap of $11.94 billion and a P/E ratio of 36.83. The company's 50 day moving average is $54.65 and its two-hundred day moving average is $53.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31.

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

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. This is a boost from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.87%. UL Solutions's dividend payout ratio is currently 32.10%.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ULS. Quarry LP bought a new stake in shares of UL Solutions in the 4th quarter worth about $32,000. PNC Financial Services Group Inc. grew its stake in UL Solutions by 653.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock worth $33,000 after buying an additional 582 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of UL Solutions during the first quarter worth approximately $49,000. Northwest & Ethical Investments L.P. increased its holdings in shares of UL Solutions by 23.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock worth $105,000 after buying an additional 400 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of UL Solutions in the fourth quarter valued at approximately $163,000.

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.