UL Solutions (NYSE:ULS) Given New $51.00 Price Target at The Goldman Sachs Group

UL Solutions (NYSE:ULS) had its price target increased by The Goldman Sachs Group from $45.00 to $51.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of UL Solutions from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird increased their price objective on shares of UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup started coverage on shares of UL Solutions in a research report on Monday, October 7th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Baird R W cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

UL Solutions Stock Performance

UL Solutions stock opened at $51.36 on Wednesday. The firm has a 50 day simple moving average of $50.99 and a 200-day simple moving average of $45.96. UL Solutions has a 1-year low of $33.15 and a 1-year high of $59.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.29.

UL Solutions (NYSE:ULS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.10. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The business had revenue of $731.00 million during the quarter, compared to analysts’ expectations of $709.41 million. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that UL Solutions will post 1.48 earnings per share for the current year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 30th were issued a dividend of $0.125 per share. The ex-dividend date was Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a yield of 0.97%.

Insiders Place Their Bets

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the firm’s stock in a transaction 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 document filed with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On UL Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC purchased a new stake in UL Solutions in the second quarter valued at $29,000. Sunbelt Securities Inc. purchased a new stake in UL Solutions in the second quarter valued at $72,000. Daiwa Securities Group Inc. purchased a new stake in UL Solutions in the second quarter valued at $84,000. TFC Financial Management Inc. purchased a new stake in UL Solutions in the second quarter valued at $88,000. Finally, Bellecapital International Ltd. purchased a new stake in UL Solutions in the second quarter valued at $208,000.

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.