PHINIA Inc. (NYSE:PHIN) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in PHINIA Inc. by 16.5%, selling 6,297 shares, and now holds 31,802 shares worth approximately $1.35 million.
• PHINIA reported earnings per share (EPS) of $1.27 for the last quarter, exceeding analysts' expectations of $0.99, with revenue of $890 million.
• The company will pay a quarterly dividend of $0.27 per share on September 12th, reflecting an annualized dividend yield of 2.1%.

US Bancorp DE trimmed its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 16.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,802 shares of the company's stock after selling 6,297 shares during the quarter. US Bancorp DE owned about 0.08% of PHINIA worth $1,349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PHIN. Janney Montgomery Scott LLC lifted its stake in PHINIA by 8.2% in the first quarter. Janney Montgomery Scott LLC now owns 9,196 shares of the company's stock valued at $390,000 after buying an additional 698 shares during the last quarter. Principal Financial Group Inc. lifted its stake in PHINIA by 0.6% in the first quarter. Principal Financial Group Inc. now owns 229,854 shares of the company's stock valued at $9,753,000 after buying an additional 1,270 shares during the last quarter. Barclays PLC lifted its stake in PHINIA by 14.7% in the fourth quarter. Barclays PLC now owns 83,529 shares of the company's stock valued at $4,023,000 after buying an additional 10,724 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in PHINIA by 1.6% in the first quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company's stock valued at $725,000 after buying an additional 274 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in PHINIA by 4.2% in the fourth quarter. Alliancebernstein L.P. now owns 60,963 shares of the company's stock valued at $2,937,000 after buying an additional 2,445 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Price Performance

NYSE:PHIN traded up $1.92 during trading hours on Tuesday, hitting $54.64. The company's stock had a trading volume of 408,287 shares, compared to its average volume of 516,473. The business's 50-day moving average is $46.92 and its two-hundred day moving average is $45.38. The company has a market capitalization of $2.13 billion, a PE ratio of 21.10, a PEG ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.28. The firm had revenue of $890.00 million during the quarter, compared to analysts' expectations of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. PHINIA's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a $0.27 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.08 annualized dividend and a yield of 2.0%. PHINIA's dividend payout ratio is presently 41.70%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America boosted their price objective on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley boosted their price objective on PHINIA from $46.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wall Street Zen upgraded PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a research note on Wednesday, April 23rd. Finally, UBS Group restated a "neutral" rating and set a $55.00 price target (up previously from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.17.

Insider Transactions at PHINIA

In other PHINIA news, Director Meggan M. Walsh acquired 1,400 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average price of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the transaction, the director owned 7,492 shares of the company's stock, valued at $319,983.32. The trade was a 22.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.