Whipplewood Advisors LLC Acquires 57,866 Shares of PHINIA Inc. (NYSE:PHIN)

Whipplewood Advisors LLC raised its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 241,108.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,890 shares of the company's stock after purchasing an additional 57,866 shares during the period. PHINIA accounts for approximately 0.7% of Whipplewood Advisors LLC's investment portfolio, making the stock its 28th biggest position. Whipplewood Advisors LLC owned approximately 0.14% of PHINIA worth $2,456,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Millennium Management LLC increased its holdings in shares of 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 last quarter. Dimensional Fund Advisors LP grew its stake in shares of PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after acquiring an additional 253,345 shares in the last quarter. First Trust Advisors LP grew its stake in shares of PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after acquiring an additional 458,650 shares in the last quarter. Voss Capital LP grew its stake in shares of PHINIA by 31.8% in the fourth 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 in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of PHINIA by 8.5% in the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock valued at $68,120,000 after acquiring an additional 110,931 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

PHINIA Price Performance

PHINIA stock traded up $0.32 during trading hours on Friday, reaching $42.80. 350,811 shares of the stock were exchanged, compared to its average volume of 587,366. The company has a market cap of $1.70 billion, a P/E ratio of 24.46 and a beta of 1.59. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23. The stock has a 50 day moving average of $41.72 and a two-hundred day moving average of $46.65.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). The firm had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 earnings per share. Equities analysts expect that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on PHIN shares. Morgan Stanley decreased their price target on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. UBS Group restated a "neutral" rating and issued a $45.00 price target (down from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. CL King started coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 price target on the stock. BNP Paribas downgraded shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target on the stock. in a research note on Wednesday, April 23rd. Finally, Bank of America upped their price target on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $51.17.

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.