Arrowstreet Capital Limited Partnership decreased its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 513,970 shares of the company's stock after selling 36,597 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.39% of PHINIA worth $35,176,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC raised its holdings 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 purchasing an additional 256 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its position in PHINIA by 2,500.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company's stock valued at $49,000 after purchasing an additional 750 shares in the last quarter. Hantz Financial Services Inc. increased its stake in PHINIA by 76.7% in the 4th quarter. Hantz Financial Services Inc. now owns 979 shares of the company's stock valued at $61,000 after buying an additional 425 shares during the last quarter. Global Retirement Partners LLC increased its stake in PHINIA by 2,529.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,262 shares of the company's stock valued at $79,000 after buying an additional 1,214 shares during the last quarter. Finally, State of Wyoming bought a new stake in PHINIA during the 2nd quarter worth about $60,000. Institutional investors and hedge funds own 90.94% of the company's stock.
PHINIA Trading Up 2.6%
PHINIA stock opened at $80.51 on Wednesday. The stock has a 50-day simple moving average of $79.33 and a 200 day simple moving average of $74.18. The stock has a market capitalization of $2.98 billion, a P/E ratio of 22.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82. PHINIA Inc. has a 52 week low of $48.94 and a 52 week high of $86.93.
PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.16. The company had revenue of $878.00 million during 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 business's revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. Analysts expect that PHINIA Inc. will post 6.24 earnings per share for the current year.
PHINIA Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. PHINIA's dividend payout ratio is presently 33.52%.
Insider Transactions at PHINIA
In related news, VP Samantha Pombier sold 2,227 shares of PHINIA stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total transaction of $183,415.72. Following the completion of the sale, the vice president owned 6,637 shares of the company's stock, valued at approximately $546,623.32. The trade was a 25.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael Coetzee sold 1,250 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total transaction of $100,762.50. Following the completion of the transaction, the vice president owned 27,009 shares in the company, valued at approximately $2,177,195.49. This trade represents a 4.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.20% of the company's stock.
Wall Street Analyst Weigh In
PHIN has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of PHINIA from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 21st. Zacks Research lowered PHINIA from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. KeyCorp initiated coverage on PHINIA in a research report on Friday, June 12th. They set an "overweight" rating and a $105.00 price target for the company. UBS Group raised their price target on PHINIA from $76.00 to $81.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Finally, Wall Street Zen raised PHINIA from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, PHINIA has a consensus rating of "Moderate Buy" and an average price target of $75.67.
Check Out Our Latest Research Report on PHINIA
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. 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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