Insider Selling: PHINIA (NYSE:PHIN) CFO Sells $900,585.00 in Stock

PHINIA Inc. (NYSE:PHIN) CFO Chris Gropp sold 13,500 shares of PHINIA stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $66.71, for a total value of $900,585.00. Following the completion of the sale, the chief financial officer directly owned 43,823 shares of the company’s stock, valued at $2,923,432.33. This trade represents a 23.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PHINIA Trading Up 0.3%

Shares of PHIN traded up $0.18 during trading hours on Friday, hitting $66.19. 216,460 shares of the stock traded hands, compared to its average volume of 381,451. 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 1-year low of $50.79 and a 1-year high of $86.93. The firm has a market capitalization of $2.43 billion, a PE ratio of 18.97 and a beta of 1.14. The business has a fifty day moving average of $74.53 and a 200-day moving average of $74.32.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The firm had revenue of $940.00 million during the quarter, compared to analyst estimates of $918.83 million. PHINIA had a return on equity of 13.86% and a net margin of 3.73%. Analysts expect that PHINIA Inc. will post 6.18 EPS for the current year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $0.30 per share. 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 currently 34.38%.

Wall Street Analysts Forecast Growth

PHIN has been the topic of a number of recent research reports. UBS Group reduced their price objective on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Wall Street Zen cut shares of PHINIA from a “buy” rating to a “hold” rating in a research report on Sunday, September 6th. Weiss Ratings raised PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 1st. Northland Securities set a $98.00 price target on PHINIA in a research report on Friday, July 31st. Finally, Zacks Research cut PHINIA from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in PHINIA by 1.9% in the 4th quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock valued at $464,000 after purchasing an additional 141 shares during the period. Baron Wealth Management LLC increased its holdings in shares of PHINIA by 3.7% during the second quarter. Baron Wealth Management LLC now owns 4,542 shares of the company’s stock worth $374,000 after purchasing an additional 160 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of PHINIA by 2.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,748 shares of the company’s stock valued at $548,000 after buying an additional 207 shares in the last quarter. Larson Financial Group LLC raised its position in shares of 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. Finally, Hancock Whitney Corp boosted its stake in shares of PHINIA by 0.5% in the third quarter. Hancock Whitney Corp now owns 62,643 shares of the company’s stock valued at $3,601,000 after buying an additional 311 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.