State of Wyoming Sells 5,957 Shares of PHINIA Inc. (NYSE:PHIN)

State of Wyoming trimmed its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 80.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,438 shares of the company's stock after selling 5,957 shares during the quarter. State of Wyoming's holdings in PHINIA were worth $69,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in shares of PHINIA by 28.3% in the 4th 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. Dimensional Fund Advisors LP lifted its stake in 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 buying an additional 253,345 shares during the period. First Trust Advisors LP lifted its stake in 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 buying an additional 458,650 shares during the period. Voss Capital LP boosted its holdings in PHINIA by 31.8% during the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock worth $68,261,000 after buying an additional 342,081 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of PHINIA by 8.5% during the 4th quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock worth $68,120,000 after buying an additional 110,931 shares during the period. 90.94% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PHIN shares. UBS Group reiterated a "neutral" rating and issued a $45.00 price target (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Northland Securities initiated coverage on shares of PHINIA in a report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price on the stock. CL King assumed coverage on shares of PHINIA in a research report on Monday, March 24th. They set a "buy" rating and a $54.00 price target on the stock. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. Finally, BNP Paribas downgraded PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.17.

PHINIA Stock Down 0.8%

Shares of PHINIA stock traded down $0.37 on Friday, hitting $43.39. The company had a trading volume of 630,705 shares, compared to its average volume of 589,075. The stock has a 50-day moving average of $41.84 and a 200-day moving average of $46.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23. The firm has a market capitalization of $1.73 billion, a P/E ratio of 24.79 and a beta of 1.59.

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

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued 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 dividend yield of 2.49%. PHINIA's payout ratio is presently 61.36%.

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.