UL Solutions (NYSE:ULS) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of UL Solutions (NYSE:ULS) from a hold rating to a buy rating in a report released on Saturday morning.

ULS has been the topic of several other research reports. Robert W. Baird cut their price target on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. The Goldman Sachs Group reiterated a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. BNP Paribas Exane started coverage on shares of UL Solutions in a report on Monday, April 20th. They issued a “neutral” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of UL Solutions from $88.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company increased their price target on shares of UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, UL Solutions presently has an average rating of “Moderate Buy” and an average target price of $101.54.

UL Solutions Stock Performance

ULS opened at $98.95 on Friday. UL Solutions has a 52-week low of $61.64 and a 52-week high of $107.54. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market cap of $19.94 billion, a P/E ratio of 57.87, a price-to-earnings-growth ratio of 3.85 and a beta of 0.59. The firm’s 50-day moving average price is $88.55 and its 200-day moving average price is $82.66.

UL Solutions (NYSE:ULS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities analysts anticipate that UL Solutions will post 2.1 EPS for the current fiscal year.

UL Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were issued a $0.145 dividend. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, March 2nd. This represents a $0.58 annualized dividend and a yield of 0.6%. UL Solutions’s dividend payout ratio is currently 33.92%.

Insider Buying and Selling

In other news, EVP Alberto Uggetti sold 6,100 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $100.00, for a total transaction of $610,000.00. Following the sale, the executive vice president owned 10,307 shares of the company’s stock, valued at $1,030,700. This trade represents a 37.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer F. Scanlon sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $91.57, for a total transaction of $1,144,625.00. Following the sale, the chief executive officer directly owned 188,274 shares in the company, valued at $17,240,250.18. The trade was a 6.23% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 39,100 shares of company stock worth $3,655,055. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On UL Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in ULS. Ghisallo Capital Management LLC grew its stake 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 worth $110,347,000 after purchasing an additional 1,299,273 shares during the period. Vanguard Group Inc. grew its stake in shares of UL Solutions by 21.9% during 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 period. State Street Corp grew its stake in shares of UL Solutions by 272.1% during 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 during the period. Norges Bank acquired a new stake in shares of UL Solutions during the 4th quarter worth approximately $72,719,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of UL Solutions during the 4th quarter worth 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.