Wellington Management Group LLP Makes New $32.09 Million Investment in UL Solutions Inc. (NYSE:ULS)

Wellington Management Group LLP bought a new position in shares of UL Solutions Inc. (NYSE:ULS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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.

A number of other large investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in UL Solutions during the third quarter worth $2,086,000. Vanguard Group Inc. grew its stake in UL Solutions by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 5,573,695 shares of the company's stock valued at $278,016,000 after buying an additional 401,492 shares during the last quarter. Renaissance Capital LLC grew its stake in UL Solutions by 108.5% in the 4th quarter. Renaissance Capital LLC now owns 87,609 shares of the company's stock valued at $4,370,000 after buying an additional 45,595 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in UL Solutions by 29.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company's stock valued at $222,658,000 after acquiring an additional 1,022,851 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in UL Solutions by 52.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 342,707 shares of the company's stock worth $16,895,000 after acquiring an additional 117,794 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ULS. JPMorgan Chase & Co. increased their target price on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. The Goldman Sachs Group lifted their target price on UL Solutions from $51.00 to $57.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Finally, Citigroup upped their price target 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.45.

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Insider Transactions at UL Solutions

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $53.00, for a total transaction of $102,714.00. Following the sale, the executive vice president now directly owns 9,285 shares of the company's stock, valued at $492,105. The trade was a 17.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

UL Solutions Price Performance

NYSE:ULS traded up $1.44 during trading hours on Friday, hitting $56.31. The company's stock had a trading volume of 1,226,694 shares, compared to its average volume of 784,167. 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 company has a market capitalization of $11.27 billion and a P/E ratio of 34.76. UL Solutions Inc. has a twelve month low of $33.15 and a twelve month high of $59.23. The stock has a fifty day simple moving average of $54.14 and a 200-day simple moving average of $52.58.

UL Solutions (NYSE:ULS - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.38 by $0.11. The business had revenue of $739.00 million during the quarter, compared to the consensus estimate of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. On average, analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.92%. This is a positive change from UL Solutions's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 28th. UL Solutions's dividend payout ratio (DPR) is presently 32.10%.

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.