Bessemer Group Inc. Purchases 26,033 Shares of PHINIA Inc. $PHIN

Bessemer Group Inc. lifted its position in PHINIA Inc. (NYSE:PHIN) by 46.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 82,024 shares of the company’s stock after purchasing an additional 26,033 shares during the period. Bessemer Group Inc.’s holdings in PHINIA were worth $5,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Tudor Investment Corp ET AL purchased a new position in PHINIA during the third quarter valued at $3,850,000. Intech Investment Management LLC grew its holdings in PHINIA by 634.1% during the fourth quarter. Intech Investment Management LLC now owns 119,432 shares of the company’s stock valued at $7,487,000 after purchasing an additional 103,162 shares during the period. Voss Capital LP increased its position in PHINIA by 2.8% in the fourth quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock worth $108,295,000 after buying an additional 47,468 shares in the last quarter. Vanguard Group Inc. increased its position in PHINIA by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock worth $282,740,000 after buying an additional 44,599 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of PHINIA in the fourth quarter worth about $8,639,000. Institutional investors own 90.94% of the company’s stock.

Insiders Place Their Bets

In other PHINIA news, VP Michael Coetzee sold 1,250 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total transaction of $100,762.50. Following the completion of the transaction, the vice president owned 27,009 shares of the company’s stock, valued at $2,177,195.49. This represents a 4.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Samantha Pombier sold 2,227 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total value of $183,415.72. Following the transaction, the vice president owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. The trade was a 25.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PHIN shares. UBS Group lifted their price objective on PHINIA from $76.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research cut shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Weiss Ratings raised shares of PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Finally, KeyCorp assumed coverage on shares of PHINIA in a research report on Friday, June 12th. They issued an “overweight” rating and a $105.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, PHINIA has a consensus rating of “Moderate Buy” and an average target price of $75.67.

PHINIA Trading Down 3.4%

Shares of PHIN opened at $77.40 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32. PHINIA Inc. has a 1 year low of $46.78 and a 1 year high of $86.93. The company has a 50 day simple moving average of $79.04 and a two-hundred day simple moving average of $73.58. The firm has a market cap of $2.87 billion, a P/E ratio of 21.62 and a beta of 1.13.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The firm had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $838.67 million. During the same quarter last year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts expect that PHINIA Inc. will post 6.24 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 9th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, June 9th. PHINIA’s payout ratio is currently 33.52%.

PHINIA 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. 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.