UL Solutions Inc. (NYSE:ULS) Stock Has Average Price Target of $95.84

Shares of UL Solutions Inc. (NYSE:ULS) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $95.84.

A number of brokerages have recently issued reports on ULS. UBS Group raised their price objective on UL Solutions from $96.00 to $97.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Weiss Ratings cut UL Solutions from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 21st. Citigroup reduced their price target on UL Solutions from $82.80 to $81.40 and set a “neutral” rating on the stock in a research report on Wednesday, November 4th. The Goldman Sachs Group set a $86.00 price target on UL Solutions in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company lifted their price objective on UL Solutions from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th.

Insider Buying and Selling at UL Solutions

In other news, CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $75.03, for a total transaction of $937,875.00. Following the completion of the transaction, the chief executive officer directly owned 114,224 shares in the company, valued at approximately $8,570,226.72. This trade represents a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 37,500 shares of company stock worth $2,734,625 over the last ninety days. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UL Solutions

Several institutional investors have recently modified their holdings of ULS. Marshall Wace LLP purchased a new position in shares of UL Solutions during the third quarter valued at about $29,151,000. Empowered Funds LLC raised its holdings in shares of UL Solutions by 3.3% in the third quarter. Empowered Funds LLC now owns 29,227 shares of the company’s stock worth $1,918,000 after buying an additional 928 shares during the last quarter. Caxton Associates LLP acquired a new stake in UL Solutions during the 3rd quarter worth about $445,000. State Board of Administration of Florida Retirement System raised its position in shares of UL Solutions by 2.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 33,466 shares of the company’s stock worth $2,196,000 after acquiring an additional 799 shares during the period. Finally, Wealth Alliance LLC lifted its position in shares of UL Solutions by 10.0% during the 3rd quarter. Wealth Alliance LLC now owns 6,627 shares of the company’s stock valued at $435,000 after buying an additional 601 shares in the last quarter.

UL Solutions Price Performance

Shares of ULS traded down $1.07 during midday trading on Friday, reaching $80.47. The stock had a trading volume of 555,124 shares, compared to its average volume of 807,706. The company’s 50-day moving average is $71.72 and its 200 day moving average is $82.75. UL Solutions has a 12-month low of $63.17 and a 12-month high of $107.54. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $16.25 billion, a price-to-earnings ratio of 32.06, a price-to-earnings-growth ratio of 3.15 and a beta of 0.62.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.62 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.62. The firm had revenue of $823.00 million during the quarter, compared to analyst estimates of $815.72 million. UL Solutions had a net margin of 16.07% and a return on equity of 26.65%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 EPS. On average, equities analysts predict that UL Solutions will post 2.21 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 30th will be given a dividend of $0.1450 per share. The ex-dividend date is Monday, November 30th. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. UL Solutions’s payout ratio is currently 23.11%.

UL Solutions Company Profile

UL Solutions Inc. provides testing, inspection, certification, software and advisory services focused on product safety, performance and sustainability. Its work helps companies assess products and processes against technical standards and regulatory requirements. The company serves manufacturers and other organizations across industries and geographies. Its services include product testing and certification, cybersecurity and supply-chain assessments, and software and consulting tools for managing compliance and sustainability efforts.