Dorsey Wright & Associates Invests $1.06 Million in PHINIA Inc. $PHIN

Key Points

• Dorsey Wright & Associates opened a new position in PHINIA during the first quarter, buying 15,453 shares worth about $1.06 million. Institutional ownership in the stock remains high at 90.94%.
• PHINIA posted solid quarterly results, with EPS of $1.29 beating estimates and revenue of $878 million topping forecasts. Revenue also rose 10.3% year over year.
• The company paid a quarterly dividend of $0.30 per share, or $1.20 annually, for a yield of about 1.5%. Meanwhile, analysts are mixed but currently rate the stock a Moderate Buy with a consensus price target of $75.67.

Dorsey Wright & Associates acquired a new position in PHINIA Inc. (NYSE:PHIN - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,453 shares of the company's stock, valued at approximately $1,058,000.

Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in PHINIA by 151.5% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company's stock worth $27,000 after purchasing an additional 256 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its stake in shares of 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 during the period. Hantz Financial Services Inc. raised its holdings in shares of PHINIA by 76.7% during the fourth 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 raised its holdings in shares of PHINIA by 2,529.2% during the fourth 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 acquired a new position in shares of PHINIA during the second quarter worth approximately $60,000. 90.94% of the stock is currently owned by institutional investors.

PHINIA Price Performance

NYSE PHIN opened at $80.08 on Friday. The stock has a market capitalization of $2.96 billion, a P/E ratio of 22.37 and a beta of 1.13. PHINIA Inc. has a 1 year low of $46.78 and a 1 year high of $86.93. The business's fifty day moving average is $79.10 and its two-hundred day moving average is $73.40. 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 (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.16. The business had revenue of $878.00 million during the quarter, compared to analyst estimates of $838.67 million. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The company's revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $0.94 EPS. On average, research analysts forecast that PHINIA Inc. will post 6.24 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 9th. PHINIA's dividend payout ratio is currently 33.52%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other PHINIA news, VP Samantha Pombier sold 2,227 shares of the company'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 completion of the sale, the vice president directly owned 6,637 shares of the company's stock, valued at approximately $546,623.32. This represents a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of the firm's stock in a transaction dated 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 transaction, the vice president owned 27,009 shares of the company's stock, valued at approximately $2,177,195.49. The trade was a 4.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.20% of the company's stock.

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. 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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