Wellington Management Group LLP Has $40.54 Million Stake in UL Solutions Inc. $ULS

Key Points

• Wellington Management Group LLP increased its stake in UL Solutions Inc. by 11.7%, acquiring an additional 75,381 shares during the first quarter, bringing its total holdings to 718,737 shares worth approximately $40.5 million.
• Analysts have adjusted their price targets for UL Solutions, with estimates ranging from $70.00 to $77.00, while the stock currently holds a consensus rating of "Hold".
• UL Solutions announced a quarterly dividend of $0.13, representing an annualized dividend yield of 0.8%, with the payment scheduled for September 8th.

Wellington Management Group LLP raised its stake in UL Solutions Inc. (NYSE:ULS - Free Report) by 11.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 718,737 shares of the company's stock after buying an additional 75,381 shares during the quarter. Wellington Management Group LLP owned about 0.36% of UL Solutions worth $40,537,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Elequin Capital LP acquired a new stake in shares of UL Solutions during the first quarter worth about $31,000. Quarry LP acquired a new stake in UL Solutions during the fourth quarter worth approximately $32,000. Rhumbline Advisers purchased a new position in shares of UL Solutions during the first quarter worth approximately $49,000. Argent Trust Co purchased a new position in shares of UL Solutions during the first quarter worth approximately $208,000. Finally, Phillips Wealth Planners LLC purchased a new position in shares of UL Solutions during the first quarter worth approximately $226,000.

UL Solutions Stock Performance

NYSE ULS traded up $0.60 during trading hours on Tuesday, hitting $63.23. The company had a trading volume of 860,649 shares, compared to its average volume of 1,153,414. UL Solutions Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $74.15. The firm has a market cap of $12.70 billion, a P/E ratio of 39.03 and a beta of 1.00. The business has a fifty day simple moving average of $69.65 and a 200-day simple moving average of $63.44. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.55.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.05. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%.The company had revenue of $776.00 million during the quarter, compared to analysts' expectations of $771.55 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts predict that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 29th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 29th. UL Solutions's dividend payout ratio is currently 32.10%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ULS shares. The Goldman Sachs Group lifted their price objective on shares of UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. UBS Group cut their price target on UL Solutions from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Raymond James Financial lifted 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. Citigroup reissued a "neutral" rating and issued a $71.00 target price (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Finally, Robert W. Baird lifted their price target on UL Solutions from $60.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $70.86.

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.