UL Solutions (NYSE:ULS) Sets New 12-Month High - Here's What Happened

Key Points

• UL Solutions Inc. shares reached a new 52-week high of $79.37 on Thursday, up from a previous close of $77.07, with a trading volume of 340,277 shares.
• Analysts have raised their price targets for UL Solutions, with JPMorgan raising it to $70.00 and UBS increasing it to $75.00, while the stock holds a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $0.13 per share, marking a dividend yield of 0.7% and a payout ratio of 32.10%.

UL Solutions Inc. (NYSE:ULS - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $79.37 and last traded at $79.25, with a volume of 340277 shares changing hands. The stock had previously closed at $77.07.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ULS shares. JPMorgan Chase & Co. lifted their price target 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 lifted their target price on UL Solutions from $70.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of UL Solutions in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $71.57.

UL Solutions Trading Up 2.8%

The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The stock has a market cap of $15.92 billion, a P/E ratio of 48.92 and a beta of 1.04. The company has a 50-day moving average price of $68.83 and a two-hundred day moving average price of $67.75.

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

UL Solutions Dividend Announcement

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

Hedge Funds Weigh In On UL Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers bought a new position in UL Solutions in the first quarter worth approximately $49,000. SG Americas Securities LLC bought a new position in shares of UL Solutions during the 1st quarter worth $417,000. Bessemer Group Inc. bought a new position in shares of UL Solutions during the 1st quarter worth $80,618,000. Phillips Wealth Planners LLC bought a new position in shares of UL Solutions during the 1st quarter worth $226,000. Finally, Lisanti Capital Growth LLC grew its holdings in UL Solutions by 26.2% during the 1st quarter. Lisanti Capital Growth LLC now owns 118,155 shares of the company's stock worth $6,664,000 after acquiring an additional 24,535 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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