UL Solutions (NYSE:ULS) Price Target Increased to $53.00 by Analysts at Robert W. Baird

UL Solutions (NYSE:ULS) had its price target lifted by Robert W. Baird from $46.00 to $53.00 in a research note published on Thursday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

ULS has been the topic of several other reports. Jefferies Financial Group assumed coverage on UL Solutions in a research note on Tuesday, May 7th. They set a buy rating and a $42.00 price objective on the stock. Wells Fargo & Company raised their price objective on UL Solutions from $40.00 to $43.00 and gave the stock an overweight rating in a research note on Tuesday, May 21st. William Blair assumed coverage on UL Solutions in a research note on Tuesday, May 7th. They set an outperform rating on the stock. UBS Group started coverage on UL Solutions in a research note on Tuesday, May 7th. They set a neutral rating and a $38.00 price objective on the stock. Finally, Citigroup started coverage on UL Solutions in a research report on Tuesday, May 7th. They issued a buy rating and a $41.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $43.90.

UL Solutions Stock Performance

Shares of UL Solutions stock traded down $0.23 on Thursday, hitting $51.19. 30,152 shares of the company’s stock traded hands, compared to its average volume of 680,676. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.27. The business’s 50-day simple moving average is $42.41. UL Solutions has a 52-week low of $33.15 and a 52-week high of $52.83.

UL Solutions (NYSE:ULS) last released its earnings results on Wednesday, July 31st. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.38 by $0.06. The business had revenue of $730.00 million for the quarter, compared to analysts’ expectations of $718.73 million. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts expect that UL Solutions will post 1.42 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 3rd were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Monday, June 3rd.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. TFC Financial Management Inc. acquired a new position in UL Solutions during the second quarter worth about $88,000. Bellecapital International Ltd. acquired a new position in UL Solutions during the second quarter worth about $208,000. Legato Capital Management LLC acquired a new position in UL Solutions during the second quarter worth about $534,000. Bank of New York Mellon Corp acquired a new position in shares of UL Solutions in the 2nd quarter valued at $586,000. Finally, Hall Laurie J Trustee acquired a new position in shares of UL Solutions in the 2nd quarter valued at $2,066,000.

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.