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

UL Solutions Inc. (NYSE:ULS) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $49.00.

Several equities research analysts have recently issued reports on the company. Citigroup began coverage on UL Solutions in a research report on Monday, October 7th. They set a “buy” rating and a $60.00 target price for the company. The Goldman Sachs Group upped their price objective on shares of UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. UBS Group lifted their price target on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped their target price on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird upped their target price on UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th.

UL Solutions Stock Up 1.8 %

Shares of UL Solutions stock opened at $54.08 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. UL Solutions has a 52 week low of $33.15 and a 52 week high of $59.23. The business has a 50 day moving average price of $51.14 and a 200-day moving average price of $46.92.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The company had revenue of $731.00 million for the quarter, compared to analyst estimates of $709.41 million. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts predict that UL Solutions will post 1.53 earnings per share for the current year.

UL Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.50 annualized dividend and a dividend yield of 0.92%.

Insider Activity at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On UL Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA bought a new stake in UL Solutions during the 2nd quarter worth approximately $96,262,000. American Century Companies Inc. purchased a new position in shares of UL Solutions during the 2nd quarter valued at $68,832,000. AltraVue Capital LLC purchased a new position in shares of UL Solutions during the 2nd quarter valued at $35,050,000. Conestoga Capital Advisors LLC bought a new position in UL Solutions in the 2nd quarter worth $29,229,000. Finally, Soros Fund Management LLC increased its stake in UL Solutions by 127.4% in the 3rd quarter. Soros Fund Management LLC now owns 1,137,077 shares of the company’s stock worth $56,058,000 after buying an additional 637,077 shares in 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.