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

Key Points

• UL Solutions' stock reached a new 52-week high of $79.05 during trading, closing at $74.33 with a trading volume of 68,900 shares.
• Analysts have mixed assessments, with UBS setting a $75.00 target and a "neutral" rating, while JPMorgan raised its target to $70.00 with an "overweight" rating.
• The company announced a quarterly dividend of $0.13, representing an annualized yield of 0.7%, alongside strong earnings that exceeded consensus estimates.

UL Solutions Inc. (NYSE:ULS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $79.05 and last traded at $74.33, with a volume of 68900 shares traded. The stock had previously closed at $72.36.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group set a $75.00 target price on shares of UL Solutions and gave the stock a "neutral" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of UL Solutions from $64.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of UL Solutions in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, UL Solutions has a consensus rating of "Moderate Buy" and an average price target of $71.57.

UL Solutions Stock Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 46.10 and a beta of 1.04. The company has a fifty day moving average price of $67.44 and a two-hundred day moving average price of $66.93.

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

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 29th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions's dividend payout ratio (DPR) is 32.10%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ULS. Elequin Capital LP bought a new stake in shares of UL Solutions in the 1st quarter valued at $31,000. Parkside Financial Bank & Trust lifted its holdings in shares of UL Solutions by 48.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company's stock valued at $38,000 after purchasing an additional 171 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock valued at $46,000 after purchasing an additional 614 shares in the last quarter. Rhumbline Advisers bought a new stake in shares of UL Solutions in the first quarter valued at about $49,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of UL Solutions by 28.2% in the second quarter. PNC Financial Services Group Inc. now owns 731 shares of the company's stock valued at $53,000 after purchasing an additional 161 shares in 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.

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