UL Solutions (NYSE:ULS) Reaches New 52-Week High - What's Next?

Key Points

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on ULS shares. Robert W. Baird upped their target price on shares of UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. The Goldman Sachs Group upped their target price 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. Citigroup reiterated a "neutral" rating and issued a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Wells Fargo & Company upped their price target on shares of UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, UBS Group upped their price target on shares of UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $69.43.

UL Solutions Stock Performance

The company has a market cap of $14.59 billion, a PE ratio of 43.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.24 and a current ratio of 1.24. The stock's 50-day simple moving average is $71.18 and its 200 day simple moving average is $61.97.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The company had revenue of $705.00 million during the quarter, compared to the consensus estimate of $704.19 million. UL Solutions had a net margin of 11.60% and a return on equity of 40.79%. The company's revenue was up 5.2% on a year-over-year basis. As a group, equities analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 30th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, May 30th. UL Solutions's dividend payout ratio (DPR) is currently 31.14%.

Insider Transactions at UL Solutions

In other news, insider Gitte Schjotz sold 7,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total value of $472,080.00. Following the completion of the transaction, the insider owned 46,889 shares in the company, valued at $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 is available through this hyperlink. Also, EVP Alberto Uggetti sold 1,961 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $70.00, for a total transaction of $137,270.00. Following the completion of the transaction, the executive vice president owned 9,285 shares of the company's stock, valued at $649,950. This represents a 17.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On UL Solutions

A number of large investors have recently made changes to their positions in ULS. Capital International Investors grew its stake in UL Solutions by 7.4% in the 4th quarter. Capital International Investors now owns 11,691,957 shares of the company's stock valued at $583,324,000 after acquiring an additional 809,779 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in 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 valued at $255,513,000 after acquiring an additional 305,658 shares during the last quarter. JPMorgan Chase & Co. grew its stake in UL Solutions by 1.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company's stock valued at $252,333,000 after acquiring an additional 82,261 shares during the last quarter. FMR LLC grew its stake in UL Solutions by 17.2% in the 4th quarter. FMR LLC now owns 4,178,072 shares of the company's stock valued at $208,402,000 after acquiring an additional 612,834 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in UL Solutions by 3.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,389,077 shares of the company's stock valued at $119,164,000 after acquiring an additional 81,426 shares during the last quarter.

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.