The Goldman Sachs Group Issues Positive Forecast for UL Solutions (NYSE:ULS) Stock Price

UL Solutions (NYSE:ULS) had its price objective lifted by The Goldman Sachs Group from $51.00 to $57.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also weighed in on ULS. Robert W. Baird upped their target price on shares of UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. UBS Group increased their price objective on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their target price on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upped their price target on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UL Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

UL Solutions Stock Down 1.8 %

Shares of NYSE:ULS opened at $53.05 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. UL Solutions has a 52-week low of $33.15 and a 52-week high of $59.23. The business’s 50 day simple moving average is $52.34 and its two-hundred day simple moving average is $51.90. The firm has a market cap of $10.62 billion and a P/E ratio of 32.74.

UL Solutions (NYSE:ULS) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.11. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The business had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. As a group, 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 will be paid on Monday, March 10th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, February 28th. 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 dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ULS. Capital International Investors increased its stake in shares of UL Solutions by 7.4% during the 4th 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. grew its holdings in UL Solutions by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company’s stock valued at $278,016,000 after purchasing an additional 401,492 shares during the period. JPMorgan Chase & Co. grew its holdings in UL Solutions by 29.3% during the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock valued at $222,658,000 after purchasing an additional 1,022,851 shares during the period. T. Rowe Price Investment Management Inc. increased its position in UL Solutions by 88.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company’s stock worth $210,729,000 after buying an additional 1,987,295 shares during 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 valued at $208,402,000 after buying an additional 612,834 shares during the period.

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.