Wells Fargo & Company Lowers UL Solutions (NYSE:ULS) Price Target to $104.00

UL Solutions (NYSE:ULS) had its price objective reduced by Wells Fargo & Company from $120.00 to $104.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 32.96% from the stock’s previous close.

ULS has been the subject of several other research reports. Robert W. Baird set a $95.00 target price on UL Solutions in a research note on Wednesday. Zacks Research lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Citigroup reiterated a “neutral” rating on shares of UL Solutions in a report on Wednesday. Wall Street Zen downgraded UL Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, UBS Group upgraded shares of UL Solutions from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Tuesday, July 14th. Six 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 presently has an average rating of “Moderate Buy” and a consensus price target of $99.84.

UL Solutions Trading Down 0.2%

Shares of UL Solutions stock traded down $0.12 during mid-day trading on Wednesday, hitting $78.22. The stock had a trading volume of 422,014 shares, compared to its average volume of 952,265. The firm has a 50-day moving average of $92.95 and a two-hundred day moving average of $87.34. UL Solutions has a 12-month low of $61.64 and a 12-month 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 firm has a market cap of $15.77 billion, a P/E ratio of 45.74, a price-to-earnings-growth ratio of 3.50 and a beta of 0.71.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $816.00 million during the quarter, compared to the consensus estimate of $813.62 million. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. Sell-side analysts forecast that UL Solutions will post 2.13 earnings per share for the current year.

Insider Activity at UL Solutions

In other UL Solutions news, CAO Karen K. Pepping sold 725 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $97.74, for a total transaction of $70,861.50. Following the sale, the chief accounting officer directly owned 8,082 shares in the company, valued at $789,934.68. This represents a 8.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alberto Uggetti sold 6,100 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $100.00, for a total transaction of $610,000.00. Following the sale, the executive vice president directly owned 10,307 shares in the company, valued at $1,030,700. This represents a 37.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,205 shares of company stock worth $5,315,675 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On UL Solutions

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in UL Solutions by 349.3% during the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after buying an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of UL Solutions by 3,070.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after acquiring an additional 614 shares in the last quarter. GAMMA Investing LLC increased its position in shares of UL Solutions by 42.4% during the second quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock worth $84,000 after acquiring an additional 245 shares during the period. Rhumbline Advisers purchased a new stake in shares of UL Solutions during the first quarter worth $49,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of UL Solutions by 112.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after acquiring an additional 479 shares in the last quarter.

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.