UL Solutions (NYSE:ULS) Trading Down 5.9% – Should You Sell?

UL Solutions Inc. (NYSE:ULS)’s stock price fell 5.9% during trading on Wednesday . The company traded as low as $83.35 and last traded at $83.63. 268,412 shares changed hands during trading, a decline of 64% from the average session volume of 753,523 shares. The stock had previously closed at $88.85.

Analyst Upgrades and Downgrades

Several research analysts have commented on ULS shares. The Goldman Sachs Group boosted their target price on UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. UBS Group increased their price objective on UL Solutions from $75.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of UL Solutions in a report on Monday. Wells Fargo & Company upped their price target on UL Solutions from $77.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $84.00 price objective (up from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $81.71.

UL Solutions Stock Down 7.5%

The stock has a market cap of $16.51 billion, a price-to-earnings ratio of 49.28 and a beta of 0.92. The stock has a 50 day simple moving average of $80.21 and a 200 day simple moving average of $73.04. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45.

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

UL Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, November 28th. UL Solutions’s payout ratio is currently 31.14%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ULS. Allspring Global Investments Holdings LLC bought a new stake in UL Solutions during the 3rd quarter worth approximately $97,803,000. Norges Bank purchased a new position in UL Solutions in the 2nd quarter worth $89,174,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in UL Solutions in the first quarter worth $57,999,000. DekaBank Deutsche Girozentrale purchased a new stake in UL Solutions during the second quarter valued at about $52,396,000. Finally, Capital International Investors grew its stake in shares of UL Solutions by 10.8% during the third quarter. Capital International Investors now owns 7,548,311 shares of the company’s stock valued at $534,738,000 after buying an additional 738,720 shares during the last quarter.

About UL Solutions

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.