Bessemer Group Inc. Acquires 26,033 Shares of PHINIA Inc. $PHIN

Key Points

• Bessemer Group Inc. boosted its PHINIA stake by 46.5% in the first quarter, adding 26,033 shares and bringing its total holdings to 82,024 shares worth about $5.6 million.
• PHINIA reported strong quarterly results, with EPS of $1.29 beating estimates and revenue of $878 million also topping forecasts; revenue rose 10.3% year over year.
• Several insider sales and mixed analyst views were noted, including share sales by two vice presidents, while Wall Street consensus remains “Moderate Buy” with an average price target of $75.67.

Bessemer Group Inc. increased its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 46.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,024 shares of the company's stock after acquiring an additional 26,033 shares during the period. Bessemer Group Inc. owned approximately 0.22% of PHINIA worth $5,614,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PHIN. Larson Financial Group LLC lifted its holdings in shares of PHINIA by 151.5% during 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 stake in shares of PHINIA by 2,500.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company's stock worth $49,000 after buying an additional 750 shares during the last quarter. State of Wyoming purchased a new stake in shares of PHINIA in the 2nd quarter worth approximately $60,000. Hantz Financial Services Inc. increased its position in PHINIA by 76.7% during 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 in the last quarter. Finally, Global Retirement Partners LLC increased its position in PHINIA by 2,529.2% during 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 in the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

Insider Activity

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

PHINIA Stock Performance

PHIN stock opened at $77.40 on Tuesday. The stock has a market capitalization of $2.87 billion, a PE ratio of 21.62 and a beta of 1.13. PHINIA Inc. has a 12-month low of $46.78 and a 12-month high of $86.93. 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 stock's 50 day simple moving average is $79.04 and its 200 day simple moving average is $73.58.

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

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, June 9th. PHINIA's dividend payout ratio (DPR) is presently 33.52%.

Analyst Ratings Changes

Several research firms have commented on PHIN. Wall Street Zen raised PHINIA from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. Weiss Ratings upgraded PHINIA from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 8th. UBS Group lifted their price target on PHINIA from $76.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Zacks Research cut shares of PHINIA from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Finally, KeyCorp assumed coverage on shares of PHINIA in a research report on Friday, June 12th. They set an "overweight" rating and a $105.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $75.67.

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.

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