UL Solutions (NYSE:ULS) Sees Strong Trading Volume

Shares of UL Solutions Inc. (NYSE:ULS) saw unusually-high trading volume on Thursday . Approximately 606,705 shares traded hands during mid-day trading, a decline of 20% from the previous session’s volume of 761,859 shares.The stock last traded at $49.24 and had previously closed at $49.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird increased their price objective on UL Solutions from $46.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Baird R W cut shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. The Goldman Sachs Group upped their price objective on shares of UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company raised their target price on shares of UL Solutions from $43.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.90.

UL Solutions Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.29. The company’s 50-day moving average is $50.49.

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

UL Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 30th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, August 30th.

Insider Buying and Selling at UL Solutions

In related 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On UL Solutions

A number of hedge funds have recently modified their holdings of ULS. Renaissance Technologies LLC purchased a new stake in shares of UL Solutions during the second quarter worth about $3,536,000. Federated Hermes Inc. bought a new stake in shares of UL Solutions during the second quarter valued at approximately $13,636,000. Raymond James & Associates purchased a new position in shares of UL Solutions in the second quarter worth $9,089,000. Hall Laurie J Trustee bought a new position in shares of UL Solutions during the second quarter worth $2,066,000. Finally, Discovery Capital Management LLC CT purchased a new position in UL Solutions during the second quarter valued at $1,055,000.

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.