UL Solutions (NYSE:ULS) Reaches New 1-Year Low – Time to Sell?

UL Solutions Inc. (NYSE:ULS)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $65.85 and last traded at $65.9760, with a volume of 476882 shares. The stock had previously closed at $69.50.

Analyst Ratings Changes

Several analysts recently weighed in on ULS shares. UBS Group cut their price objective on shares of UL Solutions from $110.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $86.00 price target on UL Solutions in a report on Wednesday, August 5th. Weiss Ratings upgraded UL Solutions from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Robert W. Baird set a $95.00 price objective on UL Solutions in a report on Wednesday, August 5th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, UL Solutions has a consensus rating of “Moderate Buy” and an average price target of $96.78.

UL Solutions Price Performance

The business has a 50-day simple moving average of $79.54 and a two-hundred day simple moving average of $87.47. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 2.69 and a beta of 0.63.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%.The company had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $813.62 million. During the same period last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts predict that UL Solutions Inc. will post 2.08 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 31st were issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, August 31st. UL Solutions’s payout ratio is presently 23.48%.

Insider Buying and Selling

In other UL Solutions news, CEO Jennifer Scanlon sold 12,500 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $73.66, for a total value of $920,750.00. Following the sale, the chief executive officer directly owned 139,224 shares in the company, valued at approximately $10,255,239.84. The trade was a 8.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 37,500 shares of company stock valued at $3,312,000 in the last quarter. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UL Solutions

Several hedge funds have recently made changes to their positions in the business. Capital International Investors boosted its holdings in UL Solutions by 6.6% during the fourth quarter. Capital International Investors now owns 8,043,735 shares of the company’s stock worth $634,616,000 after buying an additional 495,424 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of UL Solutions by 10.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock worth $463,618,000 after acquiring an additional 545,528 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of UL Solutions by 2.0% in the 1st quarter. Bessemer Group Inc. now owns 2,265,772 shares of the company’s stock worth $194,199,000 after acquiring an additional 44,103 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of UL Solutions by 12.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,744,523 shares of the company’s stock worth $147,534,000 after acquiring an additional 193,610 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of UL Solutions by 21.9% during the fourth quarter. Geode Capital Management LLC now owns 1,282,676 shares of the company’s stock worth $101,174,000 after purchasing an additional 230,660 shares during the period.

About UL Solutions

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that provides testing, inspection, certification, verification and advisory services. The company helps manufacturers, retailers, regulators and other organizations assess whether products, systems and processes meet applicable safety, security, performance and sustainability requirements.

Its services cover a broad range of industries and technologies, including consumer products, industrial equipment, energy and utilities, chemicals, mobility, information technology and the built environment.