Phillips Wealth Planners LLC Acquires Shares of 4,006 UL Solutions Inc. (NYSE:ULS)

Phillips Wealth Planners LLC acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,006 shares of the company's stock, valued at approximately $226,000.

Other institutional investors have also modified their holdings of the company. Quarry LP bought a new position in shares of UL Solutions during the 4th quarter valued at about $32,000. PNC Financial Services Group Inc. lifted its stake in UL Solutions by 653.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock valued at $33,000 after acquiring an additional 582 shares in the last quarter. Rhumbline Advisers bought a new stake in UL Solutions in the 1st quarter valued at approximately $49,000. Northwest & Ethical Investments L.P. lifted its stake in UL Solutions by 23.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company's stock valued at $105,000 after acquiring an additional 400 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in UL Solutions in the 4th quarter valued at approximately $201,000.

UL Solutions Stock Up 0.0%

Shares of NYSE:ULS traded up $0.02 during trading on Friday, hitting $72.19. 1,058,835 shares of the company were exchanged, compared to its average volume of 757,191. The stock has a market cap of $14.47 billion, a price-to-earnings ratio of 43.23 and a beta of 1.20. UL Solutions Inc. has a fifty-two week low of $40.99 and a fifty-two week high of $73.98. The firm has a fifty day moving average price of $68.00 and a two-hundred day moving average price of $58.32. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.66.

UL Solutions (NYSE:ULS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The business had revenue of $705.00 million for the quarter, compared to analyst estimates of $704.19 million. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. UL Solutions's revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, May 30th. UL Solutions's payout ratio is presently 31.14%.

Insider Buying and Selling

In other UL Solutions news, insider Gitte Schjotz sold 7,000 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. Following the transaction, the insider now directly owns 46,889 shares of the company's stock, valued at $3,162,194.16. This represents a 12.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alberto Uggetti sold 1,961 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $70.00, for a total value of $137,270.00. Following the completion of the transaction, the executive vice president now directly owns 9,285 shares in the company, valued at approximately $649,950. This represents a 17.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ULS has been the topic of several research reports. Wells Fargo & Company boosted their target price on UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Raymond James Financial boosted their target price on UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. UBS Group boosted their target price on UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Robert W. Baird boosted their target price on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Citigroup reaffirmed a "neutral" rating and set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $69.43.

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.