ABS Direct Equity Fund LLC Sells 24,997 Shares of PHINIA Inc. $PHIN

Key Points

• ABS Direct Equity Fund LLC cut its PHINIA position by 55.5% in the first quarter, selling 24,997 shares and retaining 20,003 shares worth approximately $1.37 million. Institutional investors collectively own 90.94% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $75.67 price target. Recent actions included KeyCorp initiating coverage with a $105 target and UBS raising its target to $81.
• PHINIA exceeded quarterly expectations, reporting $1.29 in EPS versus the $1.13 consensus and revenue of $878 million, up 10.3% year over year. The company also maintains a quarterly dividend of $0.30 per share, representing a 1.5% yield.

ABS Direct Equity Fund LLC lessened its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 55.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,003 shares of the company's stock after selling 24,997 shares during the period. ABS Direct Equity Fund LLC owned about 0.05% of PHINIA worth $1,369,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Tudor Investment Corp ET AL bought a new stake in PHINIA during the 3rd quarter worth approximately $3,850,000. Voss Capital LP increased its holdings 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 purchasing an additional 47,468 shares in the last quarter. Intech Investment Management LLC raised its position in PHINIA by 634.1% in the 4th 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 last quarter. 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 worth $282,740,000 after purchasing an additional 44,599 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in PHINIA in the fourth quarter worth $8,639,000. Institutional investors own 90.94% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PHIN. Weiss Ratings raised shares of PHINIA from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 21st. Zacks Research downgraded PHINIA from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. KeyCorp started coverage on PHINIA in a research report on Friday, June 12th. They issued an "overweight" rating and a $105.00 price objective on the stock. Wall Street Zen upgraded PHINIA from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. Finally, UBS Group boosted their target price on PHINIA from $76.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.67.

PHINIA Trading Down 0.2%

NYSE:PHIN opened at $78.23 on Monday. PHINIA Inc. has a 1-year low of $48.94 and a 1-year high of $86.93. The business's 50-day moving average price is $79.09 and its two-hundred day moving average price is $74.00. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 21.85 and a beta of 1.13.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.16. The firm had revenue of $878.00 million for the quarter, compared to analysts' expectations of $838.67 million. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The company's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. On average, equities analysts expect that PHINIA Inc. will post 6.24 earnings per share for the current year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 9th were issued a $0.30 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $1.20 annualized dividend and a yield of 1.5%. PHINIA's dividend payout ratio (DPR) is 33.52%.

Insiders Place Their Bets

In other news, VP Samantha Pombier sold 2,227 shares of PHINIA stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total transaction of $183,415.72. Following the transaction, the vice president directly owned 6,637 shares of the company's stock, valued at $546,623.32. This trade represents a 25.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $80.61, for a total value of $100,762.50. Following the sale, the vice president directly owned 27,009 shares of the company's stock, valued at approximately $2,177,195.49. The trade was a 4.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.20% of the company's stock.

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.

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