UL Solutions (NYSE:ULS) Price Target Raised to $97.00

UL Solutions (NYSE:ULS) had its price target raised by Wells Fargo & Company from $77.00 to $97.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently commented on ULS. UBS Group upped their target price on shares of UL Solutions from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $84.00 target price (up previously from $70.00) on shares of UL Solutions in a research note on Wednesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of UL Solutions in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, UL Solutions presently has a consensus rating of “Hold” and an average price target of $81.71.

UL Solutions Stock Performance

ULS stock traded down $0.17 during trading on Wednesday, reaching $85.51. The stock had a trading volume of 692,448 shares, compared to its average volume of 603,436. The firm has a market cap of $17.18 billion, a PE ratio of 51.20 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $72.83 and its two-hundred day moving average is $70.06. UL Solutions has a 52 week low of $48.54 and a 52 week high of $91.95.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.47 by $0.09. UL Solutions had a net margin of 11.29% and a return on equity of 34.49%. The firm had revenue of $783.00 million during the quarter, compared to analyst estimates of $769.01 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that UL Solutions will post 1.69 earnings per share for the current year.

UL Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 29th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, August 29th. UL Solutions’s dividend payout ratio is presently 31.14%.

Institutional Trading of UL Solutions

Several institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted 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 valued at $38,000 after buying an additional 171 shares during the period. Elequin Capital LP purchased a new position in UL Solutions in the first quarter valued at about $31,000. Assetmark Inc. bought a new position in shares of UL Solutions during the 3rd quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after purchasing an additional 614 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings 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 acquiring an additional 161 shares in the last quarter.

UL Solutions Company Profile

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.