UL Solutions (NYSE:ULS) Hits New 12-Month High - Still a Buy?

UL Solutions Inc. (NYSE:ULS - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $72.94 and last traded at $72.84, with a volume of 366374 shares changing hands. The stock had previously closed at $71.47.

Wall Street Analysts Forecast Growth

ULS has been the topic of several recent research reports. Robert W. Baird raised their price objective on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $71.00 price target (up from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. 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. Wells Fargo & Company raised their target price on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Raymond James Financial raised their target price on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $69.43.

UL Solutions Stock Performance

The stock has a 50 day moving average of $67.66 and a 200 day moving average of $58.08. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 43.23 and a beta of 1.21.

UL Solutions (NYSE:ULS - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $704.19 million. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 30th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, May 30th. UL Solutions's dividend payout ratio (DPR) is presently 31.14%.

Insider Transactions at UL Solutions

In other news, insider Gitte Schjotz sold 7,000 shares of UL Solutions stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. Following the completion of the transaction, the insider now directly owns 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alberto Uggetti sold 1,961 shares of UL Solutions stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $70.00, for a total value of $137,270.00. Following the completion of the transaction, the executive vice president now directly owns 9,285 shares of the company's stock, valued at approximately $649,950. This trade represents a 17.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.

Institutional Trading of UL Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in UL Solutions in the 1st quarter valued at about $49,000. Strs Ohio bought a new stake in UL Solutions in the 1st quarter valued at about $3,102,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in UL Solutions by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company's stock valued at $6,981,000 after buying an additional 13,205 shares in the last quarter. Optimize Financial Inc bought a new stake in UL Solutions in the 1st quarter valued at about $233,000. Finally, Goldman Sachs Group Inc. increased its position in UL Solutions by 104.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company's stock valued at $25,953,000 after buying an additional 234,913 shares in the last quarter.

UL Solutions Company Profile

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.