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

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

PHINIA Trading Up 1.5%

NYSE PHIN opened at $67.83 on Thursday. The stock has a market cap of $2.49 billion, a P/E ratio of 19.44 and a beta of 1.14. The company’s fifty day simple moving average is $76.13 and its 200-day simple moving average is $74.65. The company has a current ratio of 1.81, a quick ratio of 1.34 and a debt-to-equity ratio of 0.63. PHINIA Inc. has a 52 week low of $50.79 and a 52 week high of $86.93.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The firm had revenue of $940.00 million for 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%. Equities research analysts predict that PHINIA Inc. will post 6.18 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $0.30 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. PHINIA’s payout ratio is 34.38%.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PHIN shares. Zacks Research downgraded PHINIA from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Weiss Ratings upgraded PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. KeyCorp initiated coverage on shares of PHINIA in a research report on Friday, June 12th. They set an “overweight” rating and a $105.00 price target for the company. Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Finally, UBS Group cut their price target on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

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. 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.