6,204 Shares in PHINIA Inc. (NYSE:PHIN) Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,204 shares of the company's stock, valued at approximately $299,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Commerce Bank lifted its stake in shares of PHINIA by 1.7% in the fourth quarter. Commerce Bank now owns 13,696 shares of the company's stock worth $660,000 after acquiring an additional 231 shares during the period. Mariner LLC boosted its position in shares of PHINIA by 1.3% during the 4th quarter. Mariner LLC now owns 19,739 shares of the company's stock valued at $951,000 after purchasing an additional 245 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in PHINIA by 5.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,870 shares of the company's stock worth $331,000 after purchasing an additional 373 shares during the period. Smartleaf Asset Management LLC lifted its stake in PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after buying an additional 418 shares during the period. Finally, KBC Group NV lifted its stake in PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after buying an additional 685 shares during the period. Institutional investors and hedge funds own 90.94% of the company's stock.

Insiders Place Their Bets

In other news, CEO Brady D. Ericson acquired 10,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were acquired at an average cost of $39.73 per share, with a total value of $397,300.00. Following the transaction, the chief executive officer now owns 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 filing with the SEC, which can be accessed through this link. Also, Director Meggan M. Walsh bought 1,400 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 7,492 shares in the company, valued at approximately $319,983.32. This represents a 22.98% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PHIN. UBS Group reiterated a "neutral" rating and set a $45.00 target price (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. CL King initiated coverage on PHINIA in a research report on Monday, March 24th. They set a "buy" rating and a $54.00 price target for the company. Northland Securities assumed coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price on the stock. Bank of America lifted their price objective on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley lowered their target price on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PHINIA has an average rating of "Moderate Buy" and a consensus target price of $51.17.

PHINIA Trading Down 0.8%

PHINIA stock traded down $0.37 during trading hours on Friday, reaching $43.39. The stock had a trading volume of 630,705 shares, compared to its average volume of 589,866. The stock has a market cap of $1.73 billion, a PE ratio of 24.79 and a beta of 1.59. The company has a fifty day simple moving average of $41.88 and a 200-day simple moving average of $47.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last posted its 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). The business had revenue of $796.00 million during the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 earnings per share. Analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Monday, June 2nd. PHINIA's payout ratio is currently 61.36%.

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.