UL Solutions (NYSE:ULS) Research Coverage Started at Citigroup

Citigroup initiated coverage on shares of UL Solutions (NYSE:ULS) in a research note issued to investors on Monday, Marketbeat reports. The brokerage issued a buy rating and a $60.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of UL Solutions from $43.00 to $56.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Baird R W downgraded shares of UL Solutions from a strong-buy rating to a hold rating in a research report on Friday, July 12th. Robert W. Baird raised their target price on UL Solutions from $46.00 to $53.00 and gave the company a neutral rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price target on UL Solutions from $40.00 to $45.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $45.80.

UL Solutions Trading Up 1.0 %

Shares of UL Solutions stock opened at $51.70 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.00. The business has a 50-day simple moving average of $50.90. UL Solutions has a twelve month low of $33.15 and a twelve month high of $56.28.

UL Solutions (NYSE:ULS) last released its earnings results on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. The company had revenue of $730.00 million for the quarter, compared to the consensus estimate of $718.73 million. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts predict that UL Solutions will post 1.46 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, August 30th.

Insider Activity

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of UL Solutions stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ULS. EverSource Wealth Advisors LLC purchased a new position in UL Solutions during the second quarter worth about $29,000. Sunbelt Securities Inc. purchased a new position in shares of UL Solutions during the second quarter worth about $72,000. Daiwa Securities Group Inc. bought a new position in shares of UL Solutions in the second quarter worth approximately $84,000. TFC Financial Management Inc. purchased a new stake in UL Solutions in the second quarter valued at approximately $88,000. Finally, Bellecapital International Ltd. bought a new stake in UL Solutions during the second quarter valued at approximately $208,000.

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.