Neil Fryer Sells 624 Shares of PHINIA (NYSE:PHIN) Stock

PHINIA Inc. (NYSE:PHIN) VP Neil Fryer sold 624 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total transaction of $45,396.00. Following the transaction, the vice president directly owned 18,180 shares in the company, valued at approximately $1,322,595. This represents a 3.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

PHINIA Trading Down 3.3%

NYSE:PHIN traded down $2.32 during mid-day trading on Friday, reaching $67.22. 401,896 shares of the company’s stock traded hands, compared to its average volume of 440,491. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.36. The company has a 50 day moving average price of $70.69 and a 200-day moving average price of $61.07. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 20.68 and a beta of 1.36. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $81.11.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, February 12th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.17). PHINIA had a net margin of 3.73% and a return on equity of 12.56%. The business had revenue of $889.00 million during the quarter, compared to the consensus estimate of $843.59 million. During the same period last year, the company posted $0.71 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, March 6th. This is a positive change from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s payout ratio is 33.23%.

Institutional Investors Weigh In On PHINIA

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rock Creek Group LP grew its stake in PHINIA by 16.8% during the 2nd quarter. Rock Creek Group LP now owns 40,891 shares of the company’s stock valued at $1,819,000 after acquiring an additional 5,891 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of PHINIA by 76.5% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 122,151 shares of the company’s stock valued at $7,021,000 after acquiring an additional 52,957 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in PHINIA by 736.6% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,170 shares of the company’s stock worth $2,022,000 after purchasing an additional 30,966 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of PHINIA in the 3rd quarter valued at approximately $1,915,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of PHINIA during the 3rd quarter worth $3,866,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PHIN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PHINIA in a research report on Monday, December 29th. Wall Street Zen upgraded PHINIA from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 22nd. Freedom Capital cut PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. UBS Group restated a “neutral” rating and set a $76.00 price target on shares of PHINIA in a research note on Friday, February 13th. Finally, Northland Securities set a $93.00 price objective on PHINIA in a report on Friday, February 13th. One research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.33.

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.