UL Solutions (NYSE:ULS) Sets New 52-Week High - Still a Buy?

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

Analysts Set New Price Targets

ULS has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price 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. UBS Group boosted their price objective on UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group raised their target price on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Citigroup reissued a "neutral" rating and set a $71.00 price objective (up from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Finally, Robert W. Baird lifted their target price on shares of UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $69.43.

UL Solutions Stock Up 1.9%

The stock has a market capitalization of $14.60 billion, a PE ratio of 43.62 and a beta of 1.21. The company's fifty day moving average price is $66.72 and its 200-day moving average price is $57.75. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.66.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share (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 analysts' expectations 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. Analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Dividend Announcement

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. This represents a $0.52 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Friday, May 30th. UL Solutions's dividend payout ratio (DPR) is currently 31.14%.

Insider Activity at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,961 shares of the business's stock in a transaction on 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 sale, the executive vice president now directly owns 9,285 shares in the company, valued at approximately $649,950. The trade was a 17.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gitte Schjotz sold 7,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $67.44, for a total value of $472,080.00. Following the transaction, the insider now directly owns 46,889 shares in the company, valued at $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Institutional Trading of UL Solutions

Several large investors have recently modified their holdings of the company. Capital International Investors boosted its position in UL Solutions by 7.4% in the fourth quarter. Capital International Investors now owns 11,691,957 shares of the company's stock worth $583,324,000 after purchasing an additional 809,779 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of UL Solutions by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock worth $278,016,000 after buying an additional 401,492 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in UL Solutions by 7.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,530,367 shares of the company's stock valued at $255,513,000 after buying an additional 305,658 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of UL Solutions by 1.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,473,990 shares of the company's stock worth $252,333,000 after purchasing an additional 82,261 shares in the last quarter. Finally, FMR LLC raised its stake in shares of UL Solutions by 17.2% in the fourth quarter. FMR LLC now owns 4,178,072 shares of the company's stock worth $208,402,000 after buying an additional 612,834 shares during the period.

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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