Phillips Wealth Planners LLC Invests $226,000 in UL Solutions Inc. (NYSE:ULS)

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of UL Solutions by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock worth $278,016,000 after buying an additional 401,492 shares during the period. Fifth Third Bancorp lifted its stake in shares of UL Solutions by 75.3% in the first quarter. Fifth Third Bancorp now owns 9,795 shares of the company's stock worth $552,000 after acquiring an additional 4,206 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of UL Solutions in the first quarter worth about $227,000. Picton Mahoney Asset Management lifted its stake in shares of UL Solutions by 18.6% in the fourth quarter. Picton Mahoney Asset Management now owns 114,721 shares of the company's stock worth $5,722,000 after acquiring an additional 18,019 shares in the last quarter. Finally, Vest Financial LLC acquired a new position in shares of UL Solutions in the first quarter worth about $881,000.

UL Solutions Stock Down 3.2%

ULS stock opened at $70.55 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.24 and a quick ratio of 1.24. UL Solutions Inc. has a 1-year low of $39.86 and a 1-year high of $73.98. The firm has a fifty day moving average price of $67.33 and a two-hundred day moving average price of $57.95. The firm has a market cap of $14.15 billion, a price-to-earnings ratio of 42.25 and a beta of 1.21.

UL Solutions (NYSE:ULS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. UL Solutions had a net margin of 11.60% and a return on equity of 40.79%. The firm had revenue of $705.00 million during the quarter, compared to analyst estimates of $704.19 million. The business's revenue was up 5.2% on a year-over-year basis. Research analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 0.74%. UL Solutions's payout ratio is 31.14%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Raymond James Financial boosted their price target on UL Solutions from $60.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wells Fargo & Company boosted their price target on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group boosted their price target on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and issued a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Finally, UBS Group boosted their price target on UL Solutions from $58.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $69.43.

Insider Buying and Selling at UL Solutions

In other news, EVP Alberto Uggetti sold 1,961 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $70.00, for a total transaction of $137,270.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gitte Schjotz sold 7,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 46,889 shares in the company, valued at $3,162,194.16. The trade was a 12.99% 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.

UL Solutions 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.

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