UL Solutions (NYSE:ULS) Sets New 1-Year High - Here's What Happened

Key Points

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UL Solutions Inc. (NYSE:ULS - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $74.15 and last traded at $73.06, with a volume of 26196 shares. The stock had previously closed at $73.17.

Analysts Set New Price Targets

Several research firms recently issued reports on ULS. Wells Fargo & Company upped their target price on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Raymond James Financial upped their price target on shares of UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Robert W. Baird boosted their price target on UL Solutions from $60.00 to $73.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. UBS Group boosted their target price on UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group upped their price objective on shares of UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $69.43.

UL Solutions Stock Up 0.0%

The stock has a 50-day moving average of $71.13 and a 200-day moving average of $61.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 43.81 and a beta of 1.02.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The business 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 40.79% and a net margin of 11.60%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.71%. UL Solutions's dividend payout ratio is 31.14%.

Insider Activity at UL Solutions

In other UL Solutions news, insider Gitte Schjotz sold 7,000 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. Following the sale, the insider owned 46,889 shares of the company's stock, valued at approximately $3,162,194.16. This trade represents a 12.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alberto Uggetti sold 1,961 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $70.00, for a total value of $137,270.00. Following the transaction, the executive vice president directly owned 9,285 shares of the company's stock, valued at $649,950. This trade represents a 17.44% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On UL Solutions

Several large investors have recently bought and sold shares of ULS. Elequin Capital LP bought a new position in UL Solutions in the 1st quarter valued at approximately $31,000. Quarry LP bought a new position in shares of UL Solutions during the fourth quarter valued at $32,000. Rhumbline Advisers acquired a new stake in UL Solutions in the first quarter valued at $49,000. LRI Investments LLC bought a new position in UL Solutions during the 2nd quarter worth $128,000. Finally, Argent Trust Co acquired a new position in UL Solutions during the 1st quarter worth about $208,000.

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.

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