UL Solutions Inc. (NYSE:ULS) to Issue Dividend Increase – $0.15 Per Share

UL Solutions Inc. (NYSE:ULS) declared a quarterly dividend on Thursday, February 19th. Shareholders of record on Monday, March 2nd will be paid a dividend of 0.145 per share on Thursday, March 12th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, March 2nd. This is a 11.5% increase from UL Solutions’s previous quarterly dividend of $0.13.

UL Solutions Stock Up 15.8%

Shares of ULS traded up $11.23 during mid-day trading on Thursday, reaching $82.48. The company had a trading volume of 2,797,027 shares, compared to its average volume of 1,192,224. UL Solutions has a 52 week low of $49.34 and a 52 week high of $91.95. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 49.39 and a beta of 1.11. The firm has a 50-day moving average price of $75.93 and a 200 day moving average price of $74.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33.

UL Solutions (NYSE:ULS) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. UL Solutions had a net margin of 11.29% and a return on equity of 34.49%. The company had revenue of $789.00 million during the quarter, compared to analyst estimates of $782.37 million. During the same period in the previous year, the business earned $0.49 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts forecast that UL Solutions will post 1.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ULS. Robert W. Baird set a $97.00 price target on shares of UL Solutions and gave the company an “outperform” rating in a report on Wednesday, December 17th. Zacks Research cut UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. The Goldman Sachs Group increased their price target on shares of UL Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of UL Solutions in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $84.00 price target (up from $70.00) on shares of UL Solutions in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.88.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.