UL Solutions (NYSE:ULS) Reaches New 52-Week Low – Here’s What Happened

UL Solutions Inc. (NYSE:ULS) shares hit a new 52-week low on Tuesday . The stock traded as low as $65.85 and last traded at $65.9760, with a volume of 476882 shares trading hands. The stock had previously closed at $69.50.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ULS. Zacks Research cut UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Robert W. Baird set a $95.00 price target on UL Solutions in a report on Wednesday, August 5th. Citigroup reduced their price target on UL Solutions from $106.40 to $82.80 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. UBS Group reduced their price target on UL Solutions from $110.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, Wall Street Zen lowered UL Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.78.

UL Solutions Trading Down 5.6%

The business’s 50 day moving average price is $80.45 and its two-hundred day moving average price is $87.73. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 2.96 and a beta of 0.63.

UL Solutions (NYSE:ULS) last posted its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $816.00 million for the quarter, compared to analyst estimates of $813.62 million. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. On average, equities analysts predict that UL Solutions Inc. will post 2.08 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 31st were given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, August 31st. UL Solutions’s payout ratio is presently 23.48%.

Insider Activity

In other UL Solutions news, CEO Jennifer Scanlon sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $73.66, for a total value of $920,750.00. Following the transaction, the chief executive officer owned 139,224 shares in the company, valued at approximately $10,255,239.84. This represents a 8.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 37,500 shares of company stock worth $3,312,000. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UL Solutions

Several institutional investors have recently bought and sold shares of ULS. Capital International Investors lifted its position in shares of UL Solutions by 6.6% during the fourth quarter. Capital International Investors now owns 8,043,735 shares of the company’s stock valued at $634,616,000 after purchasing an additional 495,424 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in UL Solutions by 10.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,878,995 shares of the company’s stock worth $463,618,000 after purchasing an additional 545,528 shares in the last quarter. Bessemer Group Inc. grew its position in UL Solutions by 2.0% in the 1st quarter. Bessemer Group Inc. now owns 2,265,772 shares of the company’s stock worth $194,199,000 after purchasing an additional 44,103 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in UL Solutions by 12.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,744,523 shares of the company’s stock valued at $147,534,000 after buying an additional 193,610 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in UL Solutions by 21.9% in the 4th quarter. Geode Capital Management LLC now owns 1,282,676 shares of the company’s stock valued at $101,174,000 after buying an additional 230,660 shares during the last quarter.

UL Solutions Company Profile

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that provides testing, inspection, certification, verification and advisory services. The company helps manufacturers, retailers, regulators and other organizations assess whether products, systems and processes meet applicable safety, security, performance and sustainability requirements.

Its services cover a broad range of industries and technologies, including consumer products, industrial equipment, energy and utilities, chemicals, mobility, information technology and the built environment.