UL Solutions (NYSE:ULS) Stock Gets Price Target Trim from Citigroup

by · The Markets Daily

UL Solutions (NYSE:ULS – Free Report) had its target price reduced by Citigroup from $82.80 to $81.40 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

ULS has been the subject of a number of other research reports. Weiss Ratings cut shares of UL Solutions from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. Robert W. Baird decreased their target price on shares of UL Solutions from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. William Blair reissued an “outperform” rating on shares of UL Solutions in a research note on Monday, September 21st. UBS Group upped their price target on shares of UL Solutions from $96.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Finally, Wall Street Zen cut UL Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Seven 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, UL Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $95.84.

Read Our Latest Stock Report on ULS

UL Solutions Price Performance

Shares of UL Solutions stock traded up $2.60 during trading on Wednesday, hitting $78.75. 854,226 shares of the stock traded hands, compared to its average volume of 975,551. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 3.11 and a beta of 0.62. The firm’s fifty day moving average is $71.02 and its 200-day moving average is $82.53. UL Solutions has a 52 week low of $63.17 and a 52 week high of $107.54.

UL Solutions (NYSE:ULS – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.62. The business had revenue of $823.00 million during the quarter, compared to analyst estimates of $815.72 million. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%. UL Solutions’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Research analysts expect that UL Solutions will post 2.09 EPS for the current fiscal year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were issued a $0.1450 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.58 annualized dividend and a dividend yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is currently 23.11%.

Insider Activity at UL Solutions

In related news, CEO Jennifer Scanlon sold 12,500 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $75.03, for a total transaction of $937,875.00. Following the completion of the sale, the chief executive officer directly owned 114,224 shares in the company, valued at $8,570,226.72. This represents a 9.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 37,500 shares of company stock valued at $2,734,625 over the last quarter. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On UL Solutions

A number of hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of UL Solutions by 40,069.7% in the third quarter. International Assets Investment Management LLC now owns 1,610,000 shares of the company’s stock worth $105,648,000 after purchasing an additional 1,605,992 shares during the last quarter. Ranger Investment Management L.P. purchased a new position in UL Solutions during the 2nd quarter valued at about $42,598,000. Pictet Asset Management Holding SA raised its position in UL Solutions by 24.1% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,136,171 shares of the company’s stock valued at $74,536,000 after purchasing an additional 220,700 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in UL Solutions by 12.5% during 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 purchasing an additional 193,610 shares during the last quarter. Finally, Fenimore Asset Management Inc purchased a new stake in UL Solutions in the 3rd quarter worth approximately $11,664,000.

UL Solutions Company Profile

(Get Free Report)

UL Solutions Inc (NYSE: ULS) is a global applied safety science company that provides testing, inspection, certification, and advisory services. The company helps manufacturers, retailers, regulators, and other organizations evaluate the safety, security, performance, quality, and sustainability of products, facilities, and systems.

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

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