US Bancorp DE Has $1.35 Million Holdings in PHINIA Inc. (NYSE:PHIN)

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 reduced its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 16.5% during the first quarter, according to the company in 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Commerce Bank lifted its holdings in PHINIA by 1.7% in the 4th quarter. Commerce Bank now owns 13,696 shares of the company's stock worth $660,000 after purchasing an additional 231 shares during the last quarter. Mariner LLC grew its position in PHINIA by 1.3% in the fourth quarter. Mariner LLC now owns 19,739 shares of the company's stock valued at $951,000 after acquiring an additional 245 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of PHINIA by 1.6% during the first quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company's stock worth $725,000 after purchasing an additional 274 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of PHINIA by 3.1% during the first quarter. OneDigital Investment Advisors LLC now owns 9,253 shares of the company's stock worth $393,000 after purchasing an additional 279 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in shares of PHINIA by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 18,935 shares of the company's stock worth $803,000 after purchasing an additional 282 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PHIN shares. UBS Group reissued a "neutral" rating and issued a $55.00 target price (up previously from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Bank of America raised their price target on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley increased their price objective on PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday. BNP Paribas downgraded PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target on the stock. in a research report on Wednesday, April 23rd. Finally, Wall Street Zen raised PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $53.17.

PHINIA Price Performance

PHINIA stock traded up $1.49 during midday trading on Wednesday, reaching $56.08. The company had a trading volume of 79,568 shares, compared to its average volume of 513,547. The company has a market capitalization of $2.18 billion, a P/E ratio of 21.66, a P/E/G ratio of 0.49 and a beta of 1.51. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $57.23. The firm's fifty day simple moving average is $47.16 and its 200-day simple moving average is $45.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.86 and a quick ratio of 1.36.

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

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 22nd. PHINIA's payout ratio is 41.70%.

Insider Activity

In related news, Director Meggan M. Walsh bought 1,400 shares of the stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost 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. This represents a 22.98% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

PHINIA 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.