PHINIA Inc. (NYSE:PHIN) Shares Acquired by Alps Advisors Inc.

Alps Advisors Inc. increased its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,360 shares of the company's stock after buying an additional 7,381 shares during the quarter. Alps Advisors Inc. owned 0.26% of PHINIA worth $4,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional bought a new stake in shares of PHINIA during the 1st quarter valued at about $31,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PHINIA during the 4th quarter valued at about $144,000. AlphaQuest LLC bought a new position in PHINIA in the fourth quarter worth approximately $173,000. Optimize Financial Inc bought a new position in shares of PHINIA in the fourth quarter valued at approximately $206,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of PHINIA by 11.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,498 shares of the company's stock valued at $233,000 after acquiring an additional 560 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

Insider Activity at PHINIA

In other PHINIA news, CEO Brady D. Ericson acquired 10,000 shares of PHINIA stock in a transaction that occurred on Wednesday, April 30th. The stock was bought at an average price of $39.73 per share, with a total value of $397,300.00. Following the completion of the purchase, the chief executive officer directly owned 436,486 shares of the company's stock, valued at approximately $17,341,588.78. This represents a 2.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meggan M. Walsh acquired 1,400 shares of PHINIA stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average cost of $42.71 per share, with a total value of $59,794.00. Following the purchase, the director directly owned 7,492 shares of the company's stock, valued at $319,983.32. This represents a 22.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 11,423 shares of company stock valued at $458,069 in the last ninety days. Insiders own 2.00% of the company's stock.

PHINIA Stock Performance

Shares of NYSE PHIN traded down $1.01 during midday trading on Tuesday, hitting $47.94. 478,327 shares of the stock traded hands, compared to its average volume of 542,479. PHINIA Inc. has a one year low of $36.25 and a one year high of $57.23. The firm has a 50-day moving average of $43.95 and a two-hundred day moving average of $45.23. The firm has a market capitalization of $1.91 billion, a P/E ratio of 27.24, a PEG 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.

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

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 annualized dividend and a dividend yield of 2.25%. PHINIA's dividend payout ratio (DPR) is presently 61.36%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PHIN shares. Bank of America lifted their price objective on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley lowered their price target on PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. UBS Group upped their target price on PHINIA from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Monday. CL King started coverage on PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 target price on the stock. Finally, BNP Paribas downgraded PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target on the stock. in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.33.

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.