Brady Ericson Sells 27,860 Shares of PHINIA (NYSE:PHIN) Stock

PHINIA Inc. (NYSE:PHIN) CEO Brady Ericson sold 27,860 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $68.39, for a total value of $1,905,345.40. Following the completion of the transaction, the chief executive officer directly owned 330,497 shares of the company’s stock, valued at approximately $22,602,689.83. This trade represents a 7.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PHINIA Stock Performance

Shares of NYSE:PHIN traded down $1.55 during trading on Tuesday, hitting $66.89. 331,241 shares of the stock were exchanged, compared to its average volume of 323,989. PHINIA Inc. has a 1-year low of $50.79 and a 1-year high of $86.93. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 19.17 and a beta of 1.14. The company’s fifty day simple moving average is $76.43 and its 200-day simple moving average is $74.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.34 and a current ratio of 1.81.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, July 30th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The firm had revenue of $940.00 million during the quarter, compared to analyst estimates of $918.83 million. PHINIA had a net margin of 3.73% and a return on equity of 13.86%. Sell-side analysts expect that PHINIA Inc. will post 6.18 EPS for the current fiscal year.

PHINIA Dividend Announcement

The firm 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. This represents a $1.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 4th. PHINIA’s payout ratio is 34.38%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of PHINIA by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock valued at $282,740,000 after purchasing an additional 44,599 shares in the last quarter. California State Teachers Retirement System increased its position in shares of PHINIA by 7,907.8% during the 2nd quarter. California State Teachers Retirement System now owns 3,750,388 shares of the company’s stock worth $308,919,000 after purchasing an additional 3,703,554 shares in the last quarter. Lodge Hill Capital LLC lifted its holdings in PHINIA by 450.8% during the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock valued at $162,966,000 after purchasing an additional 1,948,820 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of PHINIA by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,336,499 shares of the company’s stock valued at $159,901,000 after acquiring an additional 34,503 shares during the last quarter. Finally, Voss Capital LP increased its holdings in shares of PHINIA by 2.8% in the fourth quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock valued at $108,295,000 after purchasing an additional 47,468 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings downgraded shares of PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. KeyCorp initiated coverage on shares of PHINIA in a research note on Friday, June 12th. They issued an “overweight” rating and a $105.00 target price on the stock. Wall Street Zen raised shares of PHINIA from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group cut their price target on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Finally, Northland Securities set a $98.00 price objective on PHINIA in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

About PHINIA

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.