UL Solutions Inc. $ULS Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management increased its UL Solutions stake by 11.4% in the second quarter, purchasing 29,076 additional shares and bringing its holdings to 284,208 shares valued at approximately $28.9 million.
• UL Solutions exceeded quarterly expectations, reporting $0.59 in adjusted EPS and $816 million in revenue, while revenue grew 5.2% year over year. The company also declared a quarterly dividend of $0.145 per share, representing a 0.8% annualized yield.
• Analyst sentiment remains moderately positive, with six Buy ratings and five Holds and an average price target of $96.78, although insiders—including the CEO—have sold shares recently and the stock was trading below its 50- and 200-day moving averages.

Wellington Management Group LLP increased its holdings in shares of UL Solutions Inc. (NYSE:ULS - Free Report) by 11.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,208 shares of the company's stock after purchasing an additional 29,076 shares during the period. Wellington Management Group LLP owned approximately 0.14% of UL Solutions worth $28,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in UL Solutions by 349.3% during the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company's stock worth $26,000 after purchasing an additional 234 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock valued at $46,000 after buying an additional 614 shares during the period. Rhumbline Advisers acquired a new position in shares of UL Solutions in the 1st quarter valued at about $49,000. CIBC Private Wealth Group LLC boosted its stake in shares of UL Solutions by 112.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company's stock worth $71,000 after buying an additional 479 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of UL Solutions by 42.4% in the second quarter. GAMMA Investing LLC now owns 823 shares of the company's stock worth $84,000 after buying an additional 245 shares during the last quarter.

UL Solutions Stock Performance

NYSE ULS opened at $73.84 on Friday. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 3.10 and a beta of 0.63. The stock has a 50-day moving average of $83.46 and a 200 day moving average of $87.82. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. UL Solutions Inc. has a twelve month low of $61.64 and a twelve month high of $107.54.

UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $816.00 million for the quarter, compared to analyst estimates of $813.62 million. UL Solutions had a return on equity of 28.81% and a net margin of 16.02%.UL Solutions's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. Sell-side analysts anticipate that UL Solutions Inc. will post 2.08 EPS for the current fiscal year.

UL Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 31st will be given a dividend of $0.145 per share. The ex-dividend date is Monday, August 31st. This represents a $0.58 dividend on an annualized basis and a yield of 0.8%. UL Solutions's dividend payout ratio is currently 23.48%.

Insider Buying and Selling at UL Solutions

In related news, CEO Jennifer F. Scanlon sold 12,500 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $73.66, for a total value of $920,750.00. Following the transaction, the chief executive officer directly owned 139,224 shares of the company's stock, valued at approximately $10,255,239.84. This trade represents a 8.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Karen K. Pepping sold 725 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $97.74, for a total value of $70,861.50. Following the sale, the chief accounting officer owned 8,082 shares of the company's stock, valued at approximately $789,934.68. This trade represents a 8.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 38,225 shares of company stock worth $3,382,862. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ULS. Zacks Research cut UL Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen lowered UL Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. The Goldman Sachs Group set a $86.00 price objective on shares of UL Solutions in a research note on Wednesday, August 5th. Wells Fargo & Company cut their target price on shares of UL Solutions from $120.00 to $104.00 and set an "overweight" rating for the company in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of UL Solutions from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.78.

About UL Solutions

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.

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