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

Wellington Management Group LLP raised its holdings in shares of UL Solutions Inc. (NYSE:ULS) by 11.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 284,208 shares of the company’s stock after purchasing an additional 29,076 shares during the quarter. Wellington Management Group LLP’s holdings in UL Solutions were worth $28,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Parallel Advisors LLC boosted its position in UL Solutions by 349.3% during the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after acquiring an additional 234 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock worth $46,000 after purchasing an additional 614 shares in the last quarter. GAMMA Investing LLC lifted its stake in UL Solutions by 42.4% in the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock worth $84,000 after purchasing an additional 245 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of UL Solutions during the 1st quarter worth approximately $49,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of UL Solutions by 112.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock worth $71,000 after purchasing an additional 479 shares during the last quarter.

UL Solutions Stock Performance

NYSE:ULS opened at $73.84 on Friday. The company’s 50-day moving average is $83.46 and its two-hundred day moving average is $87.82. UL Solutions Inc. has a 1-year low of $61.64 and a 1-year high of $107.54. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The firm 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.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $816.00 million during the quarter, compared to the consensus estimate of $813.62 million. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. Analysts forecast that UL Solutions Inc. will post 2.08 EPS for the current year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.145 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.58 annualized dividend and a yield of 0.8%. UL Solutions’s dividend payout ratio (DPR) is 23.48%.

Analyst Ratings Changes

ULS has been the subject of a number of analyst reports. UBS Group dropped their price target on UL Solutions from $110.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Robert W. Baird set a $95.00 price objective on UL Solutions in a research report on Wednesday, August 5th. Wall Street Zen lowered UL Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Citigroup dropped their target price on UL Solutions from $106.40 to $82.80 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Finally, Zacks Research downgraded UL Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, UL Solutions presently has an average rating of “Moderate Buy” and an average price target of $96.78.

Insider Buying and Selling at UL Solutions

In other UL Solutions news, CAO Karen Pepping sold 725 shares of UL Solutions stock in a transaction 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 in the company, valued at $789,934.68. The trade was a 8.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $73.66, for a total value of $920,750.00. Following the completion of the sale, the chief executive officer owned 139,224 shares in the company, valued at $10,255,239.84. This represents a 8.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 38,225 shares of company stock valued at $3,382,862. 1.20% of the stock is owned by insiders.

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.