UL Solutions (NYSE:ULS) Coverage Initiated at Citigroup

Equities researchers at Citigroup assumed coverage on shares of UL Solutions (NYSE:ULS) in a research report issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $60.00 price target on the stock. Citigroup’s price target suggests a potential upside of 18.88% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group upped their target price on UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Baird R W lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Wells Fargo & Company lifted their target price on UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird upped their price target on shares of UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.80.

UL Solutions Stock Up 0.7 %

ULS stock opened at $50.47 on Monday. The business has a 50-day moving average of $50.88. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.29 and a quick ratio of 1.29. UL Solutions has a fifty-two week low of $33.15 and a fifty-two week high of $56.28.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The company had revenue of $730.00 million for the quarter, compared to the consensus estimate of $718.73 million. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts predict that UL Solutions will post 1.46 EPS for the current year.

Insider Activity at UL Solutions

In other news, major shareholder Ulse Inc. sold 3,000,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On UL Solutions

Hedge funds have recently modified their holdings of the stock. Bellecapital International Ltd. purchased a new position in UL Solutions in the second quarter valued at about $208,000. Raymond James & Associates bought a new stake in shares of UL Solutions in the 2nd quarter valued at approximately $9,089,000. Hall Laurie J Trustee acquired a new position in UL Solutions in the second quarter worth approximately $2,066,000. TFC Financial Management Inc. bought a new position in UL Solutions during the second quarter valued at approximately $88,000. Finally, Bank of New York Mellon Corp acquired a new stake in UL Solutions in the second quarter valued at approximately $586,000.

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.