PHINIA (NYSE:PHIN) SVP Sells $83,376.81 in Stock

PHINIA Inc. (NYSE:PHIN) SVP Matthew Logar sold 1,257 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $66.33, for a total transaction of $83,376.81. Following the transaction, the senior vice president directly owned 15,576 shares in the company, valued at approximately $1,033,156.08. This represents a 7.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PHINIA Trading Down 0.1%

NYSE:PHIN opened at $66.19 on Monday. PHINIA Inc. has a 12 month low of $50.79 and a 12 month high of $86.93. The company has a current ratio of 1.81, a quick ratio of 1.34 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 18.97 and a beta of 1.14. The firm has a fifty day simple moving average of $74.34 and a two-hundred day simple moving average of $74.24.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The company had revenue of $940.00 million for the quarter, compared to the consensus estimate of $918.83 million. PHINIA had a return on equity of 13.86% and a net margin of 3.73%. Analysts expect that PHINIA Inc. will post 6.18 EPS for the current fiscal year.

PHINIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $0.30 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.20 annualized dividend and a yield of 1.8%. PHINIA’s dividend payout ratio is presently 34.38%.

Institutional Trading of PHINIA

Several institutional investors and hedge funds have recently modified their holdings of PHIN. Royal Bank of Canada lifted its holdings in shares of PHINIA by 464.8% in the first quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock valued at $3,214,000 after purchasing an additional 62,333 shares in the last quarter. AQR Capital Management LLC grew its holdings in PHINIA by 62.3% during the first quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock worth $938,000 after buying an additional 8,576 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in PHINIA by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock worth $1,056,000 after buying an additional 1,093 shares in the last quarter. Goldman Sachs Group Inc. raised its position in PHINIA by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock valued at $41,462,000 after buying an additional 58,875 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in PHINIA by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock valued at $4,000,000 after acquiring an additional 6,478 shares in the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on PHIN. Weiss Ratings upgraded PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 1st. UBS Group reduced their price target on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Zacks Research lowered shares of PHINIA from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “buy” rating in a report on Monday. Finally, KeyCorp initiated coverage on shares of PHINIA in a research note on Friday, June 12th. They issued an “overweight” rating and a $105.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PHINIA has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.

About PHINIA

PHINIA Inc (NYSE: PHIN) is a global supplier of fuel systems, electrical systems and aftermarket products for commercial vehicles, passenger vehicles and industrial applications. The company’s products are designed to support internal-combustion, hybrid and other powertrain technologies.

Its product portfolio includes fuel injectors, fuel pumps, fuel modules, electronic control units, sensors, actuators, ignition components, starters and alternators. PHINIA also provides replacement parts, diagnostic equipment and related service solutions through its aftermarket business, which serves original-equipment and independent repair channels.

PHINIA was established as an independent public company in 2023 through the separation of BorgWarner’s fuel systems and aftermarket businesses.