Wellington Management Group LLP Takes $32.09 Million Position in UL Solutions Inc. (NYSE:ULS)

Wellington Management Group LLP bought a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 643,356 shares of the company's stock, valued at approximately $32,091,000. Wellington Management Group LLP owned approximately 0.32% of UL Solutions as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. 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 buying an additional 400 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of UL Solutions by 653.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock worth $33,000 after purchasing an additional 582 shares during the period. Quarry LP purchased a new position in shares of UL Solutions during the 4th quarter worth $32,000. Lisanti Capital Growth LLC lifted its stake in shares of UL Solutions by 0.7% during the 4th quarter. Lisanti Capital Growth LLC now owns 93,620 shares of the company's stock worth $4,670,000 after purchasing an additional 690 shares during the period. Finally, Capital Group Investment Management PTE. LTD. lifted its stake in shares of UL Solutions by 3.4% during the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 21,735 shares of the company's stock worth $1,084,000 after purchasing an additional 705 shares during the period.

UL Solutions Trading Up 1.9%

Shares of ULS stock traded up $1.31 on Wednesday, reaching $71.41. 162,427 shares of the stock were exchanged, compared to its average volume of 757,572. The stock has a market cap of $14.32 billion, a P/E ratio of 44.08 and a beta of 1.21. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average of $62.44 and a two-hundred day moving average of $56.02. UL Solutions Inc. has a 1-year low of $37.97 and a 1-year high of $72.81.

UL Solutions (NYSE:ULS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The business had revenue of $705.00 million during the quarter, compared to the consensus estimate of $704.19 million. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The firm's revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Announces Dividend

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

Analysts Set New Price Targets

ULS has been the topic of a number of recent analyst reports. Wells Fargo & Company increased 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. JPMorgan Chase & Co. increased their price target on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Raymond James increased 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 set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group increased 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $69.43.

Insider Activity at UL Solutions

In related news, insider Gitte Schjotz sold 7,000 shares of the 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 completion of the sale, the insider now directly owns 46,889 shares in the company, valued at approximately $3,162,194.16. This represents a 12.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alberto Uggetti sold 1,938 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $53.00, for a total value of $102,714.00. Following the completion of the sale, the executive vice president now owns 9,285 shares of the company's stock, valued at approximately $492,105. This represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,899 shares of company stock worth $712,064. Corporate insiders own 1.20% of the company's stock.

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.