Wellington Management Group LLP Takes Position in UL Solutions Inc. (NYSE:ULS)

Wellington Management Group LLP purchased a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 643,356 shares of the company's stock, valued at approximately $32,091,000. Wellington Management Group LLP owned about 0.32% of UL Solutions at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ULS. Vanguard Group Inc. boosted its position in UL Solutions by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock worth $278,016,000 after purchasing an additional 401,492 shares in the last quarter. Renaissance Capital LLC boosted its holdings in UL Solutions by 108.5% during the fourth quarter. Renaissance Capital LLC now owns 87,609 shares of the company's stock worth $4,370,000 after buying an additional 45,595 shares in the last quarter. JPMorgan Chase & Co. grew its position in UL Solutions by 29.3% during the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after buying an additional 1,022,851 shares during the period. Picton Mahoney Asset Management increased its holdings in UL Solutions by 18.6% in the fourth quarter. Picton Mahoney Asset Management now owns 114,721 shares of the company's stock valued at $5,722,000 after buying an additional 18,019 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of UL Solutions in the fourth quarter worth about $332,000.

UL Solutions Trading Up 0.2%

UL Solutions stock traded up $0.17 during trading on Monday, reaching $71.67. 519,141 shares of the company were exchanged, compared to its average volume of 756,735. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31. The stock's 50 day simple moving average is $61.81 and its two-hundred day simple moving average is $55.77. The company has a market capitalization of $14.37 billion and a P/E ratio of 44.24. UL Solutions Inc. has a 52-week low of $37.87 and a 52-week high of $72.81.

UL Solutions (NYSE:ULS - Get Free Report) last announced its quarterly 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 11.36% and a return on equity of 44.52%. The firm had revenue of $705.00 million for the quarter, compared to analysts' expectations of $704.19 million. The company's revenue was up 5.2% on a year-over-year basis. On average, equities research analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 30th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Friday, May 30th. UL Solutions's payout ratio is presently 31.14%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ULS shares. Wells Fargo & Company raised their target price on UL Solutions from $65.00 to $77.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. UBS Group boosted their price objective on UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group upped their target price on UL Solutions from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price target on shares of UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Finally, Raymond James increased their price objective on shares of UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, UL Solutions has an average rating of "Hold" and a consensus price target of $69.43.

Insider Activity

In other 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 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 document filed with the SEC, which is available at this hyperlink. Also, EVP Alberto Uggetti sold 1,938 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $53.00, for a total transaction of $102,714.00. Following the completion of the sale, the executive vice president now owns 9,285 shares in the company, valued at approximately $492,105. This trade represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,899 shares of company stock valued at $712,064. 1.20% of the stock is currently owned by company 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.