UL Solutions (NYSE:ULS) Price Target Raised to $73.00

UL Solutions (NYSE:ULS) had its price objective upped by Robert W. Baird from $60.00 to $73.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of UL Solutions from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup upped their price objective on UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lifted their target price on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. UBS Group upped their price target on UL Solutions from $58.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on UL Solutions from $65.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.93.

UL Solutions Price Performance

ULS stock opened at $70.09 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a 50 day moving average price of $56.12 and a 200-day moving average price of $53.67. UL Solutions has a 52-week low of $36.50 and a 52-week high of $71.89. The firm has a market capitalization of $14.03 billion and a price-to-earnings ratio of 43.27.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The business had revenue of $705.00 million during the quarter, compared to analysts’ expectations of $704.19 million. The business’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts forecast that UL Solutions will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were issued a $0.13 dividend. This is an increase from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.74%. UL Solutions’s dividend payout ratio (DPR) is presently 31.14%.

Insider Buying and Selling at UL Solutions

In other news, EVP Alberto Uggetti sold 1,938 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $53.00, for a total transaction of $102,714.00. Following the completion of the sale, the executive vice president now owns 9,285 shares of the company’s stock, valued at $492,105. The trade was a 17.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gitte Schjotz sold 7,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $3,162,194.16. This represents a 12.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,899 shares of company stock valued at $712,064. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Quarry LP bought a new stake in UL Solutions during the 4th quarter worth approximately $32,000. PNC Financial Services Group Inc. raised its position in shares of UL Solutions by 653.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company’s stock valued at $33,000 after purchasing an additional 582 shares during the period. Rhumbline Advisers purchased a new position in shares of UL Solutions during the 1st quarter valued at $49,000. Northwest & Ethical Investments L.P. boosted its holdings in UL Solutions by 23.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company’s stock worth $105,000 after buying an additional 400 shares during the period. Finally, KBC Group NV purchased a new stake in UL Solutions in the 4th quarter worth $163,000.

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.