JPMorgan Chase & Co. Issues Positive Forecast for UL Solutions (NYSE:ULS) Stock Price

UL Solutions (NYSE:ULS) had its target price upped by JPMorgan Chase & Co. from $55.00 to $58.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts also recently commented on the company. The Goldman Sachs Group raised their price objective on UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price target on UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their price objective on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, UBS Group increased their target price on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.40.

UL Solutions Price Performance

UL Solutions stock opened at $53.05 on Friday. The firm has a market capitalization of $10.62 billion and a P/E ratio of 32.74. The business has a 50-day moving average of $52.34 and a 200-day moving average of $51.90. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.85. UL Solutions has a 1 year low of $33.15 and a 1 year high of $59.23.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. The firm had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. On average, equities analysts anticipate that UL Solutions will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is 30.86%.

Insider Transactions at UL Solutions

In related news, insider Gitte Schjotz sold 5,941 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $52.58, for a total transaction of $312,377.78. Following the completion of the transaction, the insider now owns 69,191 shares in the company, valued at approximately $3,638,062.78. This represents a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On UL Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in ULS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of UL Solutions in the 3rd quarter valued at about $2,086,000. Victory Capital Management Inc. grew its stake in UL Solutions by 377.1% in the third quarter. Victory Capital Management Inc. now owns 23,540 shares of the company’s stock valued at $1,161,000 after purchasing an additional 18,606 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in UL Solutions in the third quarter valued at approximately $9,615,000. Renaissance Capital LLC increased its position in shares of UL Solutions by 108.5% during the 4th quarter. Renaissance Capital LLC now owns 87,609 shares of the company’s stock worth $4,370,000 after purchasing an additional 45,595 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of UL Solutions by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after purchasing an additional 1,022,851 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.