PHINIA Inc. (NYSE:PHIN) Shares Purchased by Whipplewood Advisors LLC

Whipplewood Advisors LLC lifted its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 241,108.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,890 shares of the company's stock after purchasing an additional 57,866 shares during the period. PHINIA comprises about 0.7% of Whipplewood Advisors LLC's portfolio, making the stock its 28th biggest holding. Whipplewood Advisors LLC owned about 0.14% of PHINIA worth $2,456,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PHIN. Millennium Management LLC grew its holdings in PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after purchasing an additional 535,222 shares during the period. First Trust Advisors LP lifted its position in shares of PHINIA by 32.6% during the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after buying an additional 458,650 shares in the last quarter. Voss Capital LP grew its stake in PHINIA by 31.8% in the 4th quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after acquiring an additional 342,081 shares during the period. Dimensional Fund Advisors LP increased its holdings in PHINIA by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock worth $98,653,000 after acquiring an additional 253,345 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in PHINIA during the fourth quarter worth $6,874,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PHIN. CL King started coverage on PHINIA in a research report on Monday, March 24th. They issued a "buy" rating and a $54.00 target price on the stock. UBS Group reaffirmed a "neutral" rating and issued a $45.00 target price (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a research report on Wednesday, April 23rd. Bank of America lifted their price objective on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley cut their price target on 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PHINIA currently has an average rating of "Moderate Buy" and a consensus price target of $51.17.

PHINIA Stock Up 2.1%

Shares of PHINIA stock traded up $0.88 during trading hours on Thursday, hitting $42.43. The company had a trading volume of 638,316 shares, compared to its average volume of 587,528. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The company has a market cap of $1.69 billion, a P/E ratio of 24.25 and a beta of 1.59. The company's 50-day moving average is $41.72 and its two-hundred day moving average is $46.79.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data 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). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The business had revenue of $796.00 million for the quarter, compared to analysts' expectations of $813.24 million. During the same period in the previous year, the business posted $1.08 earnings per share. The company's revenue for the quarter was down 7.8% on a year-over-year basis. Analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.27 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.08 annualized dividend and a dividend yield of 2.55%. PHINIA's dividend payout ratio is currently 61.36%.

Insiders Place Their Bets

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