UL Solutions (NYSE:ULS) Stock Price Up 9% – Here’s Why

UL Solutions Inc. (NYSE:ULS) rose 9% on Tuesday. The stock traded as high as $82.32 and last traded at $81.8710. Approximately 348,787 shares traded hands during trading, a decline of 63% from the average session volume of 935,622 shares. The stock had previously closed at $75.14.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. William Blair reissued an “outperform” rating on shares of UL Solutions in a research note on Monday, September 21st. UBS Group lifted their target price on shares of UL Solutions from $96.00 to $97.00 and gave the company a “buy” rating in a report on Monday, October 12th. Wells Fargo & Company dropped their price target on shares of UL Solutions from $120.00 to $104.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Zacks Research cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, The Goldman Sachs Group set a $86.00 price objective on shares of UL Solutions in a research report on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.88.

UL Solutions Trading Up 9.4%

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 business has a fifty day simple moving average of $70.69 and a 200 day simple moving average of $82.46. The company has a market cap of $16.60 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 3.00 and a beta of 0.72.

UL Solutions (NYSE:ULS) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.62 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.62. The business had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $815.72 million. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 EPS. On average, equities analysts anticipate that UL Solutions Inc. will post 2.09 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 31st were issued a $0.1450 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.58 dividend on an annualized basis and a yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is 23.48%.

Insider Activity

In other news, CEO Jennifer Scanlon sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $70.08, for a total transaction of $876,000.00. Following the sale, the chief executive officer owned 126,724 shares of the company’s stock, valued at $8,880,817.92. The trade was a 8.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Trading of UL Solutions

A number of institutional investors have recently bought and sold shares of ULS. Bessemer Group Inc. boosted its position 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 buying an additional 44,103 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in UL Solutions by 12.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,744,523 shares of the company’s stock valued at $147,534,000 after acquiring an additional 193,610 shares in the last quarter. International Assets Investment Management LLC increased its holdings in UL Solutions by 40,069.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,610,000 shares of the company’s stock valued at $105,648,000 after acquiring an additional 1,605,992 shares in the last quarter. Reynders McVeigh Capital Management LLC raised its position in UL Solutions by 3.8% during the second quarter. Reynders McVeigh Capital Management LLC now owns 608,136 shares of the company’s stock worth $61,945,000 after acquiring an additional 22,028 shares during the last quarter. Finally, Ranger Investment Management L.P. acquired a new position in UL Solutions during the second quarter worth about $42,598,000.

UL Solutions Company Profile

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that provides testing, inspection, certification, and advisory services. The company helps manufacturers, retailers, regulators, and other organizations evaluate the safety, security, performance, quality, and sustainability of products, facilities, and systems.

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