UL Solutions (NYSE:ULS) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of UL Solutions (NYSE:ULS) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Several other research firms have also weighed in on ULS. The Goldman Sachs Group restated a “neutral” rating on shares of UL Solutions in a report on Wednesday, May 6th. Citigroup boosted their price objective on shares of UL Solutions from $87.80 to $106.40 and gave the company a “neutral” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on shares of UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. 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 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of UL Solutions from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.54.

UL Solutions Trading Down 1.2%

ULS opened at $85.60 on Friday. The firm has a market cap of $17.25 billion, a P/E ratio of 50.06, a P/E/G ratio of 3.32 and a beta of 0.63. UL Solutions has a 12 month low of $61.64 and a 12 month high of $107.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $94.57 and a 200 day moving average of $86.95.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $758.00 million for the quarter, compared to the consensus estimate of $748.50 million. UL Solutions had a return on equity of 30.99% and a net margin of 11.24%.The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. As a group, research analysts forecast that UL Solutions will post 2.13 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were paid a $0.145 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.58 dividend on an annualized basis and a yield of 0.7%. UL Solutions’s dividend payout ratio (DPR) is presently 33.92%.

Insider Buying and Selling at UL Solutions

In other news, EVP Alberto Uggetti sold 6,100 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 10,307 shares of the company’s stock, valued at approximately $1,030,700. The trade was a 37.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Friedrich Hecker sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $102.04, for a total transaction of $408,160.00. Following the completion of the transaction, the director owned 13,180 shares in the company, valued at approximately $1,344,887.20. The trade was a 23.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 65,705 shares of company stock valued at $6,460,300. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On UL Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its position in shares of UL Solutions by 28.3% during the second quarter. Handelsbanken Fonder AB now owns 23,600 shares of the company’s stock worth $2,404,000 after acquiring an additional 5,200 shares during the period. Thrive Wealth Management LLC raised its stake in shares of UL Solutions by 17.2% during the second quarter. Thrive Wealth Management LLC now owns 3,931 shares of the company’s stock valued at $400,000 after acquiring an additional 578 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of UL Solutions by 42.4% in the second quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock valued at $84,000 after purchasing an additional 245 shares during the period. Pacific Excel Wealth Advisors Inc. purchased a new stake in shares of UL Solutions in the second quarter valued at approximately $264,000. Finally, Pacer Advisors Inc. raised its position in UL Solutions by 4.8% during the 1st quarter. Pacer Advisors Inc. now owns 9,503 shares of the company’s stock valued at $815,000 after purchasing an additional 437 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.