UL Solutions (NYSE:ULS) Shares Down 5.9% – Time to Sell?

UL Solutions Inc. (NYSE:ULS) shares were down 5.9% on Wednesday . The stock traded as low as $83.35 and last traded at $83.63. Approximately 268,412 shares changed hands during trading, a decline of 64% from the average daily volume of 753,523 shares. The stock had previously closed at $88.85.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ULS. Weiss Ratings reissued a “buy (b-)” rating on shares of UL Solutions in a report on Monday. The Goldman Sachs Group boosted their price objective on UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Wells Fargo & Company lifted their price target on UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. UBS Group raised their price objective on UL Solutions from $75.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $84.00 price target (up from $70.00) on shares of UL Solutions in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $81.71.

UL Solutions Stock Up 0.2%

The firm has a market cap of $15.45 billion, a PE ratio of 46.04 and a beta of 0.92. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average price of $80.61 and a 200-day moving average price of $73.11.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The business had revenue of $783.00 million during the quarter, compared to the consensus estimate of $769.01 million. During the same period in the prior year, the company earned $0.49 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. Research analysts forecast that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Friday, November 28th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is currently 31.14%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Elequin Capital LP purchased a new stake in shares of UL Solutions during the first quarter worth approximately $31,000. Parkside Financial Bank & Trust increased its stake in UL Solutions by 48.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 524 shares of the company’s stock valued at $38,000 after buying an additional 171 shares during the period. Assetmark Inc. purchased a new position in UL Solutions during the 3rd quarter worth $40,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after acquiring an additional 614 shares during the period. Finally, Rhumbline Advisers purchased a new stake in shares of UL Solutions in the first quarter valued at about $49,000.

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.