UL Solutions (NYSE:ULS) Price Target Raised to $62.00 at Wells Fargo & Company

UL Solutions (NYSE:ULS) had its target price hoisted by equities researchers at Wells Fargo & Company from $56.00 to $62.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 23.88% from the stock’s current price.

Other research analysts have also issued reports about the company. Baird R W lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Citigroup started coverage on UL Solutions in a report on Monday, October 7th. They set a “buy” rating and a $60.00 target price on the stock. Robert W. Baird upped their price target 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 lifted their price objective on shares of UL Solutions from $40.00 to $45.00 and gave the stock 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 given a buy rating to the company’s stock. According to MarketBeat, UL Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

UL Solutions Price Performance

Shares of ULS stock opened at $50.05 on Wednesday. UL Solutions has a 12 month low of $33.15 and a 12 month high of $59.23. The company has a current ratio of 1.31, a quick ratio of 1.29 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average price of $51.05 and a 200 day moving average price of $45.75.

UL Solutions (NYSE:ULS) last issued 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. UL Solutions had a net margin of 10.76% and a return on equity of 40.88%. The company had revenue of $731.00 million during the quarter, compared to analysts’ expectations of $709.41 million. The company’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, analysts predict that UL Solutions will post 1.48 EPS for the current year.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, major shareholder Ulse Inc. sold 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $49.00, for a total value of $147,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On UL Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ULS. Drive Wealth Management LLC bought a new position in shares of UL Solutions in the 3rd quarter valued at about $296,000. Swiss National Bank bought a new stake in UL Solutions during the third quarter worth about $5,576,000. Victory Capital Management Inc. boosted its position in UL Solutions by 377.1% during the third quarter. Victory Capital Management Inc. now owns 23,540 shares of the company’s stock valued at $1,161,000 after purchasing an additional 18,606 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in UL Solutions in the third quarter valued at approximately $9,615,000. Finally, WoodTrust Financial Corp acquired a new position in shares of UL Solutions during the 3rd quarter worth approximately $228,000.

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.