UL Solutions (NYSE:ULS) Trading Down 5.9% – Should You Sell?

Shares of UL Solutions Inc. (NYSE:ULS) fell 5.9% on Wednesday . The stock traded as low as $83.35 and last traded at $83.63. 268,412 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 753,523 shares. The stock had previously closed at $88.85.

Wall Street Analysts Forecast Growth

ULS has been the topic of several research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $84.00 price objective (up from $70.00) on shares of UL Solutions in a research report on Wednesday, November 5th. UBS Group lifted their target price on shares of UL Solutions from $75.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Wells Fargo & Company raised their price objective on UL Solutions from $77.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. The Goldman Sachs Group boosted their target price on UL Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of UL Solutions in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, UL Solutions presently has an average rating of “Hold” and a consensus price target of $81.71.

UL Solutions Trading Down 7.5%

The stock has a 50 day moving average price of $80.21 and a 200-day moving average price of $73.04. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $16.51 billion, a PE ratio of 49.28 and a beta of 0.92.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. UL Solutions had a return on equity of 34.49% and a net margin of 11.29%.The company had revenue of $783.00 million during the quarter, compared to the consensus estimate of $769.01 million. During the same period in the previous year, the company posted $0.49 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, November 28th. UL Solutions’s dividend payout ratio is 31.14%.

Hedge Funds Weigh In On UL Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in UL Solutions in the third quarter worth $97,803,000. Norges Bank purchased a new stake in shares of UL Solutions in the 2nd quarter worth $89,174,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of UL Solutions during the 1st quarter worth $57,999,000. DekaBank Deutsche Girozentrale bought a new stake in shares of UL Solutions in the second quarter valued at about $52,396,000. Finally, Capital International Investors boosted its stake in shares of UL Solutions by 10.8% during the third quarter. Capital International Investors now owns 7,548,311 shares of the company’s stock valued at $534,738,000 after purchasing an additional 738,720 shares in the last quarter.

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.