UL Solutions Inc. (NYSE:ULS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

UL Solutions Inc. (NYSE:ULS) has earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $51.45.

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Wells Fargo & Company raised their target price on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Citigroup raised their target price on shares of UL Solutions from $60.00 to $60.50 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group raised their target price on shares of UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their target price on shares of UL Solutions from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st.

UL Solutions Stock Performance

Shares of ULS stock opened at $54.11 on Friday. The stock has a market cap of $10.83 billion and a P/E ratio of 33.40. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The company has a fifty day moving average price of $52.41 and a two-hundred day moving average price of $51.98. UL Solutions has a one year low of $33.15 and a one year high of $59.23.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. The firm had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. As a group, equities analysts predict that UL Solutions will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, February 28th. UL Solutions’s dividend payout ratio (DPR) is currently 32.10%.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, insider Gitte Schjotz sold 5,941 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $52.58, for a total value of $312,377.78. Following the transaction, the insider now directly owns 69,191 shares of the company’s stock, valued at $3,638,062.78. This trade represents a 7.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On UL Solutions

Hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in UL Solutions in the 3rd quarter valued at about $2,086,000. Victory Capital Management Inc. grew its holdings in shares of UL Solutions by 377.1% during the 3rd quarter. Victory Capital Management Inc. now owns 23,540 shares of the company’s stock valued at $1,161,000 after purchasing an additional 18,606 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of UL Solutions during the 3rd quarter valued at approximately $9,615,000. Renaissance Capital LLC grew its holdings in shares of UL Solutions by 108.5% during the 4th quarter. Renaissance Capital LLC now owns 87,609 shares of the company’s stock valued at $4,370,000 after purchasing an additional 45,595 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of UL Solutions by 29.3% during the 3rd 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 last quarter.

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.