UL Solutions Inc. (NYSE:ULS) Receives $87.60 Average Price Target from Analysts

Shares of UL Solutions Inc. (NYSE:ULS) have earned a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $87.60.

A number of research firms have commented on ULS. Weiss Ratings cut shares of UL Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Wells Fargo & Company lifted their target price on shares of UL Solutions from $97.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Zacks Research lowered shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Robert W. Baird cut their price objective on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Finally, Citigroup decreased their target price on UL Solutions from $88.10 to $87.80 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th.

Institutional Investors Weigh In On UL Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in UL Solutions by 119.5% during the first quarter. Royal Bank of Canada now owns 143,431 shares of the company’s stock worth $8,090,000 after acquiring an additional 78,081 shares during the period. Goldman Sachs Group Inc. grew its position in shares of UL Solutions by 104.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 460,160 shares of the company’s stock worth $25,953,000 after purchasing an additional 234,913 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of UL Solutions by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,771 shares of the company’s stock worth $6,981,000 after purchasing an additional 13,205 shares during the period. Rhumbline Advisers acquired a new stake in shares of UL Solutions in the first quarter valued at approximately $49,000. Finally, Strs Ohio boosted its stake in shares of UL Solutions by 25.3% in the second quarter. Strs Ohio now owns 68,900 shares of the company’s stock valued at $5,020,000 after buying an additional 13,900 shares during the period.

UL Solutions Trading Up 0.3%

UL Solutions stock opened at $81.35 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50-day simple moving average of $76.76 and a 200 day simple moving average of $75.98. The stock has a market capitalization of $16.35 billion, a P/E ratio of 51.16, a PEG ratio of 3.33 and a beta of 0.87. UL Solutions has a 52 week low of $49.34 and a 52 week high of $91.95.

UL Solutions (NYSE:ULS) last issued its earnings results on Thursday, February 19th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $789.00 million during the quarter, compared to the consensus estimate of $782.37 million. UL Solutions had a return on equity of 31.62% and a net margin of 10.61%.The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. Analysts expect that UL Solutions will post 1.69 earnings per share for the current year.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Monday, March 2nd will be issued a $0.145 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.58 dividend on an annualized basis and a yield of 0.7%. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s payout ratio is currently 36.48%.

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.