Peregrine Capital Management LLC Decreases Holdings in PHINIA Inc. (NYSE:PHIN)

Peregrine Capital Management LLC trimmed its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,450 shares of the company's stock after selling 8,380 shares during the quarter. Peregrine Capital Management LLC owned about 0.39% of PHINIA worth $6,553,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of PHINIA by 149.3% during the 4th 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. CX Institutional acquired a new stake in PHINIA during the first quarter worth $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PHINIA in the fourth quarter valued at $144,000. AlphaQuest LLC acquired a new position in shares of PHINIA in the 4th quarter valued at $173,000. Finally, State of Michigan Retirement System purchased a new position in shares of PHINIA during the 4th quarter worth $203,000. Hedge funds and other institutional investors own 90.94% of the company's stock.

Insider Activity

In other news, Director Meggan M. Walsh bought 1,400 shares of PHINIA stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average price of $42.71 per share, with a total value of $59,794.00. Following the completion of the acquisition, the director directly owned 7,492 shares in the company, valued at $319,983.32. The trade was a 22.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was purchased at an average price of $39.73 per share, with a total value of $397,300.00. Following the purchase, the chief executive officer directly owned 436,486 shares of the company's stock, valued at $17,341,588.78. The trade was a 2.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 11,423 shares of company stock worth $458,069. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PHIN. UBS Group restated a "neutral" rating and issued a $45.00 price objective (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Morgan Stanley reduced 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. Bank of America increased their price objective on shares of PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. BNP Paribas downgraded shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price for the company. in a report on Wednesday, April 23rd. Finally, CL King assumed coverage on PHINIA in a research note on Monday, March 24th. They set a "buy" rating and a $54.00 price target on the stock. Three research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.17.

PHINIA Stock Down 1.0%

Shares of PHIN stock traded down $0.48 during trading on Friday, reaching $47.35. The company's stock had a trading volume of 179,013 shares, compared to its average volume of 548,789. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $57.23. The stock's 50-day moving average price is $43.26 and its 200 day moving average price is $45.28. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 0.51 and a beta of 1.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.85 and a quick ratio of 1.36.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The business had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. During the same quarter last year, the firm earned $1.08 EPS. The business's revenue was down 7.8% on a year-over-year basis. On average, research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 annualized dividend and a yield of 2.28%. PHINIA's payout ratio is 61.36%.

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.