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

Wellington Management Group LLP purchased a new position in shares of UL Solutions Inc. (NYSE:ULS) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 643,356 shares of the company’s stock, valued at approximately $32,091,000.

Other hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in UL Solutions by 653.9% in the fourth 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 last quarter. Northwest & Ethical Investments L.P. lifted its stake in shares of UL Solutions by 23.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,100 shares of the company’s stock worth $105,000 after acquiring an additional 400 shares during the last quarter. KBC Group NV purchased a new position in UL Solutions during the 4th quarter valued at $163,000. Sanctuary Advisors LLC bought a new position in UL Solutions in the 4th quarter valued at $221,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in UL Solutions in the fourth quarter worth $201,000.

UL Solutions Stock Down 5.2 %

UL Solutions stock opened at $54.41 on Monday. 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 market cap of $10.89 billion and a P/E ratio of 33.59. The business has a fifty day moving average of $54.05 and a two-hundred day moving average of $52.37. UL Solutions Inc. has a twelve month low of $33.15 and a twelve month high of $59.23.

UL Solutions (NYSE:ULS) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. UL Solutions had a return on equity of 44.52% and a net margin of 11.36%. The firm had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $726.54 million. On average, analysts forecast that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Friday, February 28th. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s payout ratio is 32.10%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ULS. Citigroup boosted their target price on shares of UL Solutions from $60.00 to $60.50 and gave the company a “buy” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group upped their target price on shares of UL Solutions from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of UL Solutions from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.45.

Insider Activity at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions 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 transaction, the executive vice president now directly owns 9,285 shares of the company’s stock, valued at approximately $492,105. The trade was a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

UL Solutions Company 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.