Wells Fargo & Company Boosts UL Solutions (NYSE:ULS) Price Target to $56.00

UL Solutions (NYSE:ULS) had its price objective upped by Wells Fargo & Company from $43.00 to $56.00 in a research note published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

ULS has been the topic of several other research reports. The Goldman Sachs Group assumed coverage on shares of UL Solutions in a report on Tuesday, May 7th. They issued a neutral rating and a $39.00 target price on the stock. Robert W. Baird lifted their target price on shares of UL Solutions from $46.00 to $53.00 and gave the stock a neutral rating in a report on Thursday. Raymond James assumed coverage on shares of UL Solutions in a report on Tuesday, May 7th. They issued an outperform rating and a $42.00 target price on the stock. Bank of America initiated coverage on shares of UL Solutions in a report on Tuesday, May 7th. They issued a buy rating and a $42.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of UL Solutions from $39.00 to $40.00 and gave the stock an overweight rating in a report on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, UL Solutions has an average rating of Moderate Buy and an average target price of $43.90.

UL Solutions Price Performance

Shares of ULS stock opened at $50.94 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $42.59. UL Solutions has a twelve month low of $33.15 and a twelve month high of $52.83.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The firm had revenue of $730.00 million during the quarter, compared to analyst estimates of $718.73 million. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts anticipate that UL Solutions will post 1.48 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 3rd were paid a $0.125 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.50 dividend on an annualized basis and a yield of 0.98%.

Hedge Funds Weigh In On UL Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC acquired a new position in UL Solutions in the second quarter valued at about $29,229,000. Raymond James & Associates acquired a new position in UL Solutions in the second quarter valued at about $9,089,000. TD Asset Management Inc acquired a new position in UL Solutions in the second quarter valued at about $5,500,000. Lisanti Capital Growth LLC acquired a new position in UL Solutions in the second quarter valued at about $4,793,000. Finally, Peregrine Capital Management LLC acquired a new position in UL Solutions in the second quarter valued at about $2,194,000.

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.