UL Solutions (NYSE:ULS) Hits New 12-Month High Following Strong Earnings

UL Solutions Inc. (NYSE:ULS) shares reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $59.23 and last traded at $54.76, with a volume of 149417 shares traded. The stock had previously closed at $51.96.

The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. The business had revenue of $731.00 million during the quarter, compared to analyst estimates of $709.41 million. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis.

UL Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ULS. Citigroup initiated coverage on shares of UL Solutions in a research report on Monday, October 7th. They issued a “buy” rating and a $60.00 price objective on the stock. Robert W. Baird lifted their price objective on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday. Baird R W cut UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. The Goldman Sachs Group upped their price objective on UL Solutions from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, UBS Group upped their price target on shares of UL Solutions from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.00.

Insider Transactions at UL Solutions

In related news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $49.00, for a total transaction of $147,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of UL Solutions

Institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of UL Solutions during the 2nd quarter worth about $96,262,000. American Century Companies Inc. purchased a new position in UL Solutions in the second quarter valued at about $68,832,000. AltraVue Capital LLC acquired a new position in shares of UL Solutions during the second quarter worth about $35,050,000. Conestoga Capital Advisors LLC purchased a new stake in shares of UL Solutions in the second quarter worth about $29,229,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of UL Solutions in the second quarter valued at about $25,667,000.

UL Solutions Trading Down 2.3 %

The firm has a fifty day moving average of $51.15 and a 200 day moving average of $45.72. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00.

UL Solutions Company Profile

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.