PHINIA Inc. $PHIN Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management cut its PHINIA stake by 33.1%, selling 99,198 shares and leaving it with 200,116 shares (about 0.52% of the company), while hedge funds and other institutions now own roughly 90.94% of the stock.
• PHINIA missed on EPS in the latest quarter ($1.18 vs. $1.35 est.) but beat on revenue ($889M vs. $843.6M), and the company raised its quarterly dividend to $0.30 (annualized $1.20, ~1.8% yield).
• Analysts give PHINIA an average rating of Moderate Buy with a consensus price target of $66.33 (1 Strong Buy, 4 Buy, 5 Hold).

Victory Capital Management Inc. reduced its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 33.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,116 shares of the company's stock after selling 99,198 shares during the period. Victory Capital Management Inc. owned approximately 0.52% of PHINIA worth $11,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rock Creek Group LP raised its holdings in shares of PHINIA by 16.8% in the 2nd quarter. Rock Creek Group LP now owns 40,891 shares of the company's stock valued at $1,819,000 after purchasing an additional 5,891 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of PHINIA by 76.5% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 122,151 shares of the company's stock valued at $7,021,000 after buying an additional 52,957 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of PHINIA by 736.6% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,170 shares of the company's stock worth $2,022,000 after purchasing an additional 30,966 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in PHINIA during the 3rd quarter worth approximately $1,915,000. Finally, Aristides Capital LLC purchased a new position in shares of PHINIA during the second quarter worth approximately $246,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHIN has been the topic of a number of recent research reports. Northland Securities set a $93.00 price objective on shares of PHINIA in a research note on Friday, February 13th. UBS Group reissued a "neutral" rating and issued a $76.00 target price on shares of PHINIA in a report on Friday, February 13th. Zacks Research raised PHINIA from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 31st. Freedom Capital lowered shares of PHINIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of PHINIA in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.33.

PHINIA Stock Performance

Shares of PHIN stock opened at $64.98 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $71.02 and a 200-day simple moving average of $61.39. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 19.99 and a beta of 1.36. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $81.11.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.17). The business had revenue of $889.00 million during the quarter, compared to analysts' expectations of $843.59 million. PHINIA had a net margin of 3.73% and a return on equity of 12.56%. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. On average, equities analysts forecast that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $0.30 per share. This is a boost from PHINIA's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. PHINIA's dividend payout ratio is currently 36.92%.

Insider Transactions at PHINIA

In other PHINIA news, VP Christopher Gustanski sold 3,812 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total transaction of $277,246.76. Following the transaction, the vice president directly owned 14,871 shares in the company, valued at approximately $1,081,567.83. This represents a 20.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Neil Fryer sold 624 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total transaction of $45,396.00. Following the completion of the transaction, the vice president directly owned 18,180 shares of the company's stock, valued at approximately $1,322,595. This trade represents a 3.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.00% of the company's stock.

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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