PHINIA Inc. $PHIN Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds reduced its PHINIA stake by 39.6% in the first quarter, selling 25,200 shares and retaining 38,500 shares valued at approximately $2.64 million. Institutional investors and hedge funds collectively own 90.94% of the company.
• PHINIA reported quarterly earnings of $1.29 per share, exceeding estimates of $1.13, while revenue rose 10.3% year over year to $878 million. The company also maintains a quarterly dividend of $0.30, equivalent to a 1.5% annual yield.
• Shares recently traded at $82.30, up 2.2%, near the company’s 12-month high of $86.93. Analyst sentiment remains a “Moderate Buy,” though the consensus price target of $75.67 is below the current share price.

Gabelli Funds LLC lessened its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 39.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,500 shares of the company's stock after selling 25,200 shares during the quarter. Gabelli Funds LLC owned 0.10% of PHINIA worth $2,635,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PHIN. Larson Financial Group LLC raised its holdings in PHINIA by 151.5% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $27,000 after acquiring an additional 256 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in PHINIA by 2,500.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company's stock worth $49,000 after acquiring an additional 750 shares in the last quarter. State of Wyoming acquired a new position in PHINIA during the 2nd quarter worth $60,000. Hantz Financial Services Inc. increased its position in shares of PHINIA by 76.7% in the 4th quarter. Hantz Financial Services Inc. now owns 979 shares of the company's stock worth $61,000 after purchasing an additional 425 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of PHINIA by 2,529.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,262 shares of the company's stock worth $79,000 after purchasing an additional 1,214 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PHINIA

In other PHINIA news, VP Michael Coetzee sold 1,250 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were 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 directly owned 27,009 shares of the company's stock, valued at $2,177,195.49. The trade was a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Samantha Pombier sold 2,227 shares of the firm's stock in a transaction that occurred on 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 owned 6,637 shares in the company, valued at $546,623.32. The trade was a 25.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.20% of the company's stock.

PHINIA Trading Up 2.2%

Shares of NYSE PHIN opened at $82.30 on Thursday. PHINIA Inc. has a 12-month low of $48.94 and a 12-month high of $86.93. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 22.99 and a beta of 1.13. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. The stock's 50 day simple moving average is $79.49 and its 200 day simple moving average is $74.28.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results 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. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The firm had revenue of $878.00 million for the quarter, compared to analyst estimates of $838.67 million. During the same period last year, the company earned $0.94 earnings per share. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts expect that PHINIA Inc. will post 6.24 EPS for the current year.

PHINIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th were given a $0.30 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $1.20 annualized dividend and a yield of 1.5%. PHINIA's dividend payout ratio (DPR) is currently 33.52%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen upgraded PHINIA from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded PHINIA from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 21st. KeyCorp initiated coverage on PHINIA in a report on Friday, June 12th. They issued an "overweight" rating and a $105.00 price target for the company. Zacks Research lowered PHINIA from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Finally, UBS Group upped their price target on PHINIA from $76.00 to $81.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.67.

About PHINIA

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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