UBS Group Cuts UL Solutions (NYSE:ULS) Price Target to $96.00

UL Solutions (NYSE:ULS) had its target price cut by UBS Group from $110.00 to $96.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the company. The Goldman Sachs Group set a $86.00 target price on UL Solutions in a research report on Wednesday. Zacks Research lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Wells Fargo & Company decreased their price target on UL Solutions from $120.00 to $104.00 and set an “overweight” rating for the company in a research note on Wednesday. Telsey Advisory Group set a $100.00 price target on UL Solutions in a report on Wednesday, May 6th. Finally, Raymond James Financial restated an “outperform” rating and set a $115.00 price objective on shares of UL Solutions in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.78.

UL Solutions Price Performance

Shares of NYSE:ULS opened at $78.15 on Wednesday. The firm’s 50 day moving average is $91.64 and its two-hundred day moving average is $87.31. UL Solutions has a 52 week low of $61.64 and a 52 week high of $107.54. The firm has a market capitalization of $15.75 billion, a P/E ratio of 31.64, a PEG ratio of 3.12 and a beta of 0.71. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.19.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $813.62 million. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%.The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. Analysts anticipate that UL Solutions will post 2.13 earnings per share for the current year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were issued a dividend of $0.145 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.58 annualized dividend and a yield of 0.7%. UL Solutions’s payout ratio is presently 23.48%.

Insider Transactions at UL Solutions

In other UL Solutions news, Director Friedrich Hecker sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $102.04, for a total value of $408,160.00. Following the completion of the sale, the director directly owned 13,180 shares in the company, valued at $1,344,887.20. This represents a 23.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Karen K. Pepping sold 725 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $97.74, for a total value of $70,861.50. Following the transaction, the chief accounting officer directly owned 8,082 shares of the company’s stock, valued at approximately $789,934.68. The trade was a 8.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 57,705 shares of company stock valued at $5,634,995 over the last three months. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ghisallo Capital Management LLC boosted its position in shares of UL Solutions by 1,299.3% during the 4th quarter. Ghisallo Capital Management LLC now owns 1,399,273 shares of the company’s stock valued at $110,347,000 after purchasing an additional 1,299,273 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of UL Solutions by 21.9% in the 4th quarter. Vanguard Group Inc. now owns 6,740,636 shares of the company’s stock worth $531,567,000 after purchasing an additional 1,213,188 shares during the last quarter. State Street Corp raised its holdings in shares of UL Solutions by 272.1% in the 4th quarter. State Street Corp now owns 1,460,723 shares of the company’s stock worth $115,193,000 after purchasing an additional 1,068,194 shares in the last quarter. Norges Bank bought a new stake in shares of UL Solutions in the 4th quarter worth approximately $72,719,000. Finally, Alyeska Investment Group L.P. acquired a new stake in UL Solutions during the fourth quarter valued at approximately $69,002,000.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.