8,556 Shares in PHINIA Inc. (NYSE:PHIN) Purchased by Focus Partners Wealth

Focus Partners Wealth bought a new stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,556 shares of the company's stock, valued at approximately $412,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PHIN. Smartleaf Asset Management LLC lifted its position in shares of PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after purchasing an additional 418 shares during the period. KBC Group NV raised its stake in PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock worth $105,000 after buying an additional 685 shares during the last quarter. AlphaQuest LLC acquired a new position in PHINIA in the fourth quarter valued at $173,000. State of Michigan Retirement System bought a new stake in PHINIA during the fourth quarter valued at $203,000. Finally, Optimize Financial Inc bought a new stake in PHINIA during the fourth quarter valued at $206,000. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Stock Down 0.1%

Shares of PHIN traded down $0.04 during trading hours on Monday, hitting $42.81. The stock had a trading volume of 373,048 shares, compared to its average volume of 591,458. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $57.23. The firm has a market capitalization of $1.70 billion, a P/E ratio of 24.46 and a beta of 1.59. The firm has a 50 day simple moving average of $41.93 and a 200-day simple moving average of $47.16. 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 (NYSE:PHIN - Get Free Report) last announced its quarterly 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 firm 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 was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 EPS. Sell-side analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.08 annualized dividend and a yield of 2.52%. PHINIA's payout ratio is 61.36%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective for the company. in a research report on Wednesday, April 23rd. Northland Securities assumed coverage on PHINIA in a report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price for the company. Morgan Stanley dropped their price target on PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Northland Capmk upgraded PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Finally, UBS Group reiterated a "neutral" rating and issued a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PHINIA presently has an average rating of "Moderate Buy" and an average price target of $51.17.

Insider Buying and Selling at PHINIA

In related news, Director Meggan M. Walsh bought 1,400 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the acquisition, the director now directly owns 7,492 shares of the company's stock, valued at $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brady D. Ericson purchased 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $39.73 per share, with a total value of $397,300.00. Following the acquisition, the chief executive officer now directly owns 436,486 shares of the company's stock, valued at $17,341,588.78. This represents a 2.34% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.00% of the company's stock.

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.