Analysts Set UL Solutions Inc. (NYSE:ULS) Target Price at $49.00

UL Solutions Inc. (NYSE:ULS) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $49.00.

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Citigroup initiated coverage on UL Solutions in a research note on Monday, October 7th. They set a “buy” rating and a $60.00 price target on the stock. Robert W. Baird upped their price objective on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. UBS Group lifted their target price on shares of UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th.

Insiders Place Their Bets

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp increased its position in shares of UL Solutions by 1.6% during the third quarter. Stifel Financial Corp now owns 30,500 shares of the company’s stock worth $1,504,000 after acquiring an additional 485 shares in the last quarter. Stone House Investment Management LLC bought a new stake in UL Solutions during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC purchased a new stake in shares of UL Solutions in the second quarter worth approximately $29,000. XTX Topco Ltd lifted its holdings in shares of UL Solutions by 15.5% in the third quarter. XTX Topco Ltd now owns 7,733 shares of the company’s stock valued at $381,000 after purchasing an additional 1,035 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of UL Solutions during the third quarter valued at approximately $84,000.

UL Solutions Stock Up 2.3 %

NYSE:ULS opened at $55.30 on Friday. UL Solutions has a twelve month low of $33.15 and a twelve month high of $59.23. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The stock’s 50-day simple moving average is $51.25 and its 200 day simple moving average is $47.20.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. The company had revenue of $731.00 million for the quarter, compared to analyst estimates of $709.41 million. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. UL Solutions’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts predict that UL Solutions will post 1.53 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 29th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, November 29th. This represents a $0.50 annualized dividend and a dividend yield of 0.90%.

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.