PHINIA (NYSE:PHIN) Sets New 1-Year High – Should You Buy?

PHINIA Inc. (NYSE:PHIN)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $73.20 and last traded at $71.54, with a volume of 390852 shares traded. The stock had previously closed at $71.27.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Zacks Research upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. BNP Paribas Exane raised shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 target price for the company in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PHINIA in a research report on Monday, December 29th. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Finally, Citigroup reissued 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.17.

PHINIA Stock Up 3.8%

The firm’s fifty day moving average is $64.17 and its 200 day moving average is $58.04. 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 firm has a market cap of $2.84 billion, a P/E ratio of 33.24 and a beta of 1.37.

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. This is a boost from PHINIA’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 6th. PHINIA’s dividend payout ratio is currently 48.65%.

Insider Buying and Selling

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

Institutional Investors Weigh In On PHINIA

A number of large investors have recently modified their holdings of the business. Larson Financial Group LLC boosted its stake in PHINIA by 151.5% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $27,000 after buying an additional 256 shares in the last quarter. EMC Capital Management acquired a new stake in PHINIA during the 2nd quarter worth approximately $39,000. TD Waterhouse Canada Inc. lifted its holdings in shares of PHINIA by 350.0% during the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $42,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in PHINIA by 34.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock worth $50,000 after buying an additional 222 shares during the period. Finally, MAI Capital Management lifted its stake in shares of PHINIA by 845.4% in the third quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after acquiring an additional 820 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

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.