PHINIA (NYSE:PHIN) Reaches New 1-Year High – Here’s What Happened

Shares of PHINIA Inc. (NYSE:PHIN) hit a new 52-week high during trading on Wednesday . The stock traded as high as $75.19 and last traded at $74.75, with a volume of 376540 shares trading hands. The stock had previously closed at $74.21.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PHIN. Northland Securities raised their price objective on shares of PHINIA from $65.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, December 30th. Zacks Research raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 10th. Finally, Citigroup restated a “neutral” rating on shares of PHINIA in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.17.

PHINIA Price Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.72. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 33.67 and a beta of 1.37. The company has a fifty day simple moving average of $64.97 and a two-hundred day simple moving average of $58.50.

PHINIA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, March 6th. This is a positive change from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s dividend payout ratio (DPR) is 48.65%.

Insider Activity at PHINIA

In other news, VP Samantha Pombier sold 1,940 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $54.14, for a total value of $105,031.60. Following the completion of the sale, the vice president directly owned 8,869 shares of the company’s stock, valued at $480,167.66. This represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Hongyong Yang sold 893 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $52.43, for a total transaction of $46,819.99. The disclosure for this sale is available in the SEC filing. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PHINIA

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

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.