733 Shares in PHINIA Inc. (NYSE:PHIN) Acquired by CX Institutional

CX Institutional purchased a new stake in PHINIA Inc. (NYSE:PHIN) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 733 shares of the company’s stock, valued at approximately $31,000.

Several other hedge funds have also added to or reduced their stakes in PHIN. Smartleaf Asset Management LLC boosted its holdings in shares of PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after buying an additional 418 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PHINIA during the fourth quarter worth approximately $144,000. AlphaQuest LLC bought a new stake in shares of PHINIA during the fourth quarter worth approximately $173,000. State of Michigan Retirement System acquired a new position in shares of PHINIA in the fourth quarter valued at approximately $203,000. Finally, Optimize Financial Inc acquired a new position in shares of PHINIA in the fourth quarter valued at approximately $206,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Down 1.5%

PHINIA stock opened at $42.17 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.36 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average price is $42.23 and its two-hundred day moving average price is $46.01. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 0.47 and a beta of 1.55. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $57.23.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The business had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. During the same quarter last year, the business posted $1.08 earnings per share. The business’s revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.56%. PHINIA’s payout ratio is 61.36%.

Insider Activity

In other news, Director Meggan M. Walsh acquired 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $42.71 per share, with a total value of $59,794.00. Following the acquisition, the director now owns 7,492 shares in the company, valued at approximately $319,983.32. This represents a 22.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brady D. Ericson acquired 10,000 shares of the stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average price of $39.73 per share, with a total value of $397,300.00. Following the completion of the acquisition, the chief executive officer now owns 436,486 shares in the company, valued at approximately $17,341,588.78. The trade was a 2.34% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 11,423 shares of company stock worth $458,069 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

PHIN has been the topic of several recent research reports. Morgan Stanley lowered their price objective on PHINIA from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. Bank of America upped their price target on shares of PHINIA from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. CL King started coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a “buy” rating and a $54.00 price objective for the company. BNP Paribas downgraded shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price objective for the company. in a report on Wednesday, April 23rd. Finally, UBS Group reaffirmed a “neutral” rating and set a $45.00 target price (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.17.

PHINIA Company Profile

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.