Brokerages Set UL Solutions Inc. (NYSE:ULS) Price Target at $83.57

Shares of UL Solutions Inc. (NYSE:ULS) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $83.5714.

Several research analysts recently commented on the company. Zacks Research cut UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Wells Fargo & Company increased their target price on shares of UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. The Goldman Sachs Group increased their price target on UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of UL Solutions in a research report on Monday, December 29th. Finally, Robert W. Baird set a $97.00 target price on UL Solutions and gave the company an “outperform” rating in a research note on Wednesday, December 17th.

Hedge Funds Weigh In On UL Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust increased its position in UL Solutions by 48.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock worth $38,000 after purchasing an additional 171 shares during the last quarter. Assetmark Inc. bought a new stake in shares of UL Solutions in the third quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. raised its position in shares of UL Solutions by 3,070.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after buying an additional 614 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of UL Solutions in the first quarter valued at $49,000. Finally, PNC Financial Services Group Inc. raised its position in UL Solutions by 28.2% in the second quarter. PNC Financial Services Group Inc. now owns 731 shares of the company’s stock worth $53,000 after purchasing an additional 161 shares in the last quarter.

UL Solutions Trading Up 3.3%

ULS opened at $71.61 on Friday. UL Solutions has a 52-week low of $49.34 and a 52-week high of $91.95. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $14.39 billion, a P/E ratio of 42.88 and a beta of 1.11. The firm’s 50 day moving average is $77.43 and its 200-day moving average is $74.99.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Friday, November 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, November 28th. UL Solutions’s payout ratio is presently 31.14%.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.