UL Solutions (NYSE:ULS – Free Report) had its target price raised by Wells Fargo & Company from $56.00 to $62.00 in a report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.
ULS has been the subject of several other reports. Baird R W downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Citigroup started coverage on UL Solutions in a research note on Monday, October 7th. They set a “buy” rating and a $60.00 target price for the company. Robert W. Baird raised their target price on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, The Goldman Sachs Group raised their target price on UL Solutions from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, UL Solutions currently has an average rating of “Moderate Buy” and an average target price of $49.00.
Check Out Our Latest Analysis on ULS
UL Solutions Price Performance
UL Solutions (NYSE:ULS – Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. The company had revenue of $731.00 million during the quarter, compared to analyst estimates of $709.41 million. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts expect that UL Solutions will post 1.48 EPS for the current fiscal year.
UL Solutions Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 30th were given a dividend of $0.125 per share. The ex-dividend date was Friday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 0.99%.
Insider Transactions at UL Solutions
In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $49.00, for a total transaction of $147,000,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Hedge Funds Weigh In On UL Solutions
A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC bought a new position in UL Solutions in the second quarter worth about $29,000. Sunbelt Securities Inc. bought a new position in UL Solutions in the second quarter worth about $72,000. Daiwa Securities Group Inc. bought a new position in UL Solutions in the second quarter worth about $84,000. TFC Financial Management Inc. bought a new position in UL Solutions in the second quarter worth about $88,000. Finally, Phillips Wealth Planners LLC bought a new position in UL Solutions in the third quarter worth about $218,000.
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.
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