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Alps Advisors Inc. Has $4.34 Million Position in PHINIA Inc. (NYSE:PHIN)

PHINIA logo with Auto/Tires/Trucks background

Alps Advisors Inc. increased its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 7.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 102,360 shares of the company's stock after purchasing an additional 7,381 shares during the quarter. Alps Advisors Inc. owned 0.26% of PHINIA worth $4,343,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Millennium Management LLC grew its position in PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after acquiring an additional 535,222 shares in the last quarter. First Trust Advisors LP grew its position in shares of PHINIA by 32.6% during the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock worth $89,928,000 after buying an additional 458,650 shares in the last quarter. Voss Capital LP grew its position in shares of PHINIA by 31.8% during the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock worth $68,261,000 after buying an additional 342,081 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of PHINIA by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock worth $98,653,000 after buying an additional 253,345 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of PHINIA during the fourth quarter worth approximately $6,874,000. Institutional investors and hedge funds own 90.94% of the company's stock.

Insider Activity

In other PHINIA news, CEO Brady D. Ericson bought 10,000 shares of the stock in a transaction on Wednesday, April 30th. The shares were bought at an average price of $39.73 per share, with a total value of $397,300.00. Following the purchase, the chief executive officer directly owned 436,486 shares in the company, valued at $17,341,588.78. The trade was a 2.34% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Meggan M. Walsh purchased 1,400 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $42.71 per share, with a total value of $59,794.00. Following the purchase, the director owned 7,492 shares in the company, valued at $319,983.32. This represents a 22.98% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 11,423 shares of company stock worth $458,069. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. CL King assumed coverage on shares of PHINIA in a research report on Monday, March 24th. They set a "buy" rating and a $54.00 price target for the company. Bank of America raised their price objective on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley reduced their price objective on PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a research note on Wednesday, April 23rd. Finally, UBS Group restated a "neutral" rating and set a $45.00 price objective (down from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.17.

Check Out Our Latest Research Report on PHIN

PHINIA Stock Performance

Shares of PHIN traded down $0.15 during midday trading on Friday, hitting $48.27. 284,264 shares of the stock traded hands, compared to its average volume of 543,384. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $57.23. The firm has a market capitalization of $1.92 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.52 and a beta of 1.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.36 and a current ratio of 1.85. The business's 50 day moving average price is $43.95 and its two-hundred day moving average price is $45.23.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a net margin of 2.28% and a return on equity of 9.88%. The firm had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. During the same period last year, the firm posted $1.08 EPS. The business's revenue was down 7.8% compared to the same quarter last year. Equities research analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, June 2nd. PHINIA's dividend payout ratio (DPR) is presently 61.36%.

PHINIA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PHINIA (NYSE:PHIN)

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