UL Solutions (NYSE:ULS) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

UL Solutions (NYSE:ULS) had its price objective lifted by The Goldman Sachs Group from $45.00 to $51.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

ULS has been the topic of a number of other reports. Citigroup started coverage on shares of UL Solutions in a research report on Monday, October 7th. They issued a “buy” rating and a $60.00 price target on the stock. Baird R W lowered shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Wells Fargo & Company upped their target price on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Robert W. Baird increased their price target on shares of UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

UL Solutions Price Performance

Shares of UL Solutions stock opened at $50.36 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00. The firm’s 50-day simple moving average is $51.15 and its 200-day simple moving average is $45.72. UL Solutions has a twelve month low of $33.15 and a twelve month high of $59.23.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. The firm had revenue of $731.00 million during the quarter, compared to analyst estimates of $709.41 million. The business’s revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that UL Solutions will post 1.48 EPS for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 30th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a yield of 0.99%.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $49.00, for a total value of $147,000,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new position in shares of UL Solutions during the 2nd quarter valued at about $29,000. Sunbelt Securities Inc. bought a new position in UL Solutions in the second quarter valued at approximately $72,000. Daiwa Securities Group Inc. bought a new position in UL Solutions in the second quarter valued at approximately $84,000. TFC Financial Management Inc. bought a new position in UL Solutions in the second quarter valued at approximately $88,000. Finally, Bellecapital International Ltd. bought a new stake in shares of UL Solutions during the second quarter worth $208,000.

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.