UL Solutions (NYSE:ULS) Sees Unusually-High Trading Volume

UL Solutions Inc. (NYSE:ULS) shares saw unusually-high trading volume on Friday . Approximately 1,039,299 shares traded hands during trading, an increase of 68% from the previous session’s volume of 617,511 shares.The stock last traded at $49.46 and had previously closed at $49.90.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ULS. The Goldman Sachs Group increased their target price on UL Solutions from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Robert W. Baird raised their price objective on shares of UL Solutions from $46.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of UL Solutions from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Wells Fargo & Company raised their price target on shares of UL Solutions from $43.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Baird R W lowered UL Solutions from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.90.

UL Solutions Stock Down 2.4 %

The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $48.26.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The business had revenue of $730.00 million for the quarter, compared to the consensus estimate of $718.73 million. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts forecast that UL Solutions Inc. will post 1.49 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 30th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, August 30th.

Institutional Trading of UL Solutions

A number of large investors have recently added to or reduced their stakes in ULS. Bellecapital International Ltd. purchased a new position in UL Solutions in the second quarter valued at about $208,000. Raymond James & Associates purchased a new position in UL Solutions in the second quarter valued at approximately $9,089,000. Hall Laurie J Trustee bought a new position in UL Solutions during the second quarter valued at $2,066,000. TFC Financial Management Inc. purchased a new stake in UL Solutions in the second quarter worth $88,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of UL Solutions in the second quarter valued at $586,000.

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.