UL Solutions Inc. (NYSE:ULS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of UL Solutions Inc. (NYSE:ULS) have earned an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $101.54.

Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their price objective on UL Solutions from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. BNP Paribas Exane initiated coverage on UL Solutions in a research report on Monday, April 20th. They set a “neutral” rating and a $95.00 price objective on the stock. Finally, Zacks Research upgraded UL Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th.

Insider Transactions at UL Solutions

In other news, insider Gitte Schjotz sold 9,865 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $96.98, for a total transaction of $956,707.70. Following the completion of the transaction, the insider directly owned 59,341 shares of the company’s stock, valued at $5,754,890.18. The trade was a 14.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer F. Scanlon sold 12,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $99.22, for a total transaction of $1,240,250.00. Following the transaction, the chief executive officer owned 164,224 shares in the company, valued at approximately $16,294,305.28. This trade represents a 7.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 65,705 shares of company stock valued at $6,460,300. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On UL Solutions

Several hedge funds and other institutional investors have recently modified their holdings of ULS. Ghisallo Capital Management LLC grew its holdings in shares of UL Solutions by 1,299.3% in the fourth quarter. Ghisallo Capital Management LLC now owns 1,399,273 shares of the company’s stock worth $110,347,000 after acquiring an additional 1,299,273 shares during the period. Vanguard Group Inc. lifted its holdings in UL Solutions by 21.9% in the fourth quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock valued at $531,567,000 after acquiring an additional 1,213,188 shares during the period. State Street Corp boosted its position in UL Solutions by 272.1% in the fourth quarter. State Street Corp now owns 1,460,723 shares of the company’s stock worth $115,193,000 after purchasing an additional 1,068,194 shares during the last quarter. Norges Bank purchased a new position in UL Solutions in the fourth quarter worth about $72,719,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of UL Solutions during the 4th quarter valued at about $69,002,000.

UL Solutions Trading Up 0.1%

Shares of NYSE ULS opened at $97.12 on Monday. The firm’s 50 day moving average price is $97.18 and its 200-day moving average price is $86.13. UL Solutions has a 52-week low of $61.64 and a 52-week high of $107.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $19.58 billion, a PE ratio of 56.80, a P/E/G ratio of 3.77 and a beta of 0.63.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The company had revenue of $758.00 million during the quarter, compared to the consensus estimate of $748.50 million. During the same quarter last year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that UL Solutions will post 2.1 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 29th. UL Solutions’s dividend payout ratio (DPR) is presently 33.92%.

About UL Solutions

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.