Wells Fargo & Company Issues Positive Forecast for UL Solutions (NYSE:ULS) Stock Price

UL Solutions (NYSE:ULS) had its price objective raised by Wells Fargo & Company from $56.00 to $62.00 in a report issued on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts have also commented on ULS. The Goldman Sachs Group boosted their price target on UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Citigroup initiated coverage on UL Solutions in a research note on Monday, October 7th. They set a “buy” rating and a $60.00 price target on the stock. Robert W. Baird boosted their price target on UL Solutions from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Baird R W lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.00.

UL Solutions Price Performance

Shares of ULS opened at $50.36 on Wednesday. The firm’s 50-day moving average is $51.15 and its two-hundred day moving average is $45.72. UL Solutions has a twelve month low of $33.15 and a twelve month high of $59.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.39 by $0.10. The firm had revenue of $731.00 million for the quarter, compared to analysts’ expectations of $709.41 million. UL Solutions’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that UL Solutions will post 1.48 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 30th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, August 30th.

Insiders Place Their Bets

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new stake in shares of UL Solutions during the 2nd quarter worth $3,536,000. Federated Hermes Inc. acquired a new stake in shares of UL Solutions during the 2nd quarter worth $13,636,000. Discovery Capital Management LLC CT acquired a new stake in shares of UL Solutions during the 2nd quarter worth $1,055,000. Raymond James & Associates acquired a new stake in shares of UL Solutions during the 2nd quarter worth $9,089,000. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of UL Solutions during the 2nd quarter worth $20,040,000.

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.