The Goldman Sachs Group Increases UL Solutions (NYSE:ULS) Price Target to $57.00

UL Solutions (NYSE:ULS) had its price objective lifted by investment analysts at The Goldman Sachs Group from $51.00 to $57.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 6.01% from the company’s current price.

Several other equities research analysts have also issued reports on ULS. Wells Fargo & Company lifted their price objective on UL Solutions from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird boosted their price target on UL Solutions from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, UBS Group lifted their price objective on UL Solutions from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.40.

UL Solutions Trading Down 0.4 %

NYSE:ULS traded down $0.24 on Friday, hitting $53.77. The stock had a trading volume of 174,889 shares, compared to its average volume of 479,281. UL Solutions has a 52 week low of $33.15 and a 52 week high of $59.23. The business’s fifty day moving average is $52.34 and its 200 day moving average is $51.90. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. The company had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a return on equity of 40.88% and a net margin of 10.76%. On average, sell-side analysts predict that UL Solutions will post 1.53 EPS for the current fiscal year.

Insider Transactions at UL Solutions

In related news, insider Gitte Schjotz sold 5,941 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $52.58, for a total transaction of $312,377.78. Following the completion of the sale, the insider now directly owns 69,191 shares in the company, valued at $3,638,062.78. This represents a 7.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Institutional Trading of UL Solutions

Hedge funds have recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of UL Solutions in the 3rd quarter worth approximately $25,000. Quarry LP purchased a new position in UL Solutions in the fourth quarter worth $32,000. PNC Financial Services Group Inc. increased its position in shares of UL Solutions by 653.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company’s stock worth $33,000 after purchasing an additional 582 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in shares of UL Solutions during the 3rd quarter valued at $84,000. Finally, KBC Group NV purchased a new stake in shares of UL Solutions during the 4th quarter valued at $163,000.

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.