UL Solutions (NYSE:ULS) Given New $58.00 Price Target at JPMorgan Chase & Co.

UL Solutions (NYSE:ULS) had its price objective increased by JPMorgan Chase & Co. from $55.00 to $58.00 in a research report sent to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages have also weighed in on ULS. Wells Fargo & Company increased their price objective on shares of UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group increased their price target on shares of UL Solutions from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their price objective on UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, UBS Group increased their target price on UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.40.

UL Solutions Price Performance

Shares of NYSE ULS opened at $53.05 on Friday. 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 business’s 50 day moving average price is $52.34 and its two-hundred day moving average price is $51.90. The company has a market cap of $10.62 billion and a PE ratio of 32.74. UL Solutions has a twelve month low of $33.15 and a twelve month high of $59.23.

UL Solutions (NYSE:ULS) last posted its earnings results on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $726.54 million. On average, analysts predict that UL Solutions will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, February 28th. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio (DPR) is 30.86%.

Insider Activity

In related news, insider Gitte Schjotz sold 5,941 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $52.58, for a total value of $312,377.78. Following the transaction, the insider now owns 69,191 shares in the company, valued at approximately $3,638,062.78. This trade represents a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On UL Solutions

Several institutional investors and hedge funds have recently bought and sold shares of ULS. Capital International Investors raised its position in shares of UL Solutions by 7.4% in the 4th quarter. Capital International Investors now owns 11,691,957 shares of the company’s stock valued at $583,324,000 after buying an additional 809,779 shares in the last quarter. Vanguard Group Inc. raised its position in UL Solutions by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company’s stock valued at $278,016,000 after purchasing an additional 401,492 shares in the last quarter. JPMorgan Chase & Co. raised its position in UL Solutions by 29.3% during the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock valued at $222,658,000 after purchasing an additional 1,022,851 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in UL Solutions by 88.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,224,709 shares of the company’s stock worth $210,729,000 after purchasing an additional 1,987,295 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of UL Solutions by 17.2% in the 4th quarter. FMR LLC now owns 4,178,072 shares of the company’s stock valued at $208,402,000 after purchasing an additional 612,834 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.