Vanguard Group Inc. Raises Position in PHINIA Inc. $PHIN

Key Points

• Vanguard Group Inc. increased its PHINIA stake by 1.0% in the fourth quarter, bringing its holdings to 4.51 million shares worth about $282.7 million. Vanguard now owns 11.73% of the company.
• Other institutional investors also boosted positions, and 90.94% of PHINIA’s stock is owned by hedge funds and other institutions. Insider ownership is relatively low at 2.20%.
• PHINIA reported better-than-expected quarterly results, with EPS of $1.29 versus estimates of $1.13 and revenue of $878 million versus $838.67 million expected. Shares were up 1.9%, and analysts currently have a consensus rating of Hold with a $68.80 target price.

Vanguard Group Inc. raised its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,510,133 shares of the company's stock after purchasing an additional 44,599 shares during the period. Vanguard Group Inc. owned 11.73% of PHINIA worth $282,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PHIN. Royal Bank of Canada raised its position in PHINIA by 464.8% during the first quarter. Royal Bank of Canada now owns 75,745 shares of the company's stock valued at $3,214,000 after purchasing an additional 62,333 shares during the period. AQR Capital Management LLC raised its position in PHINIA by 62.3% during the first quarter. AQR Capital Management LLC now owns 22,343 shares of the company's stock valued at $938,000 after purchasing an additional 8,576 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PHINIA by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company's stock valued at $1,056,000 after purchasing an additional 1,093 shares during the period. Goldman Sachs Group Inc. raised its position in PHINIA by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company's stock valued at $41,462,000 after purchasing an additional 58,875 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in PHINIA by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company's stock valued at $4,000,000 after purchasing an additional 6,478 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PHIN shares. Northland Securities set a $93.00 price objective on PHINIA in a research report on Friday, February 13th. Wall Street Zen upgraded PHINIA from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. Freedom Capital downgraded PHINIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Weiss Ratings upgraded PHINIA from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Finally, Zacks Research downgraded PHINIA from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 14th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $68.80.

Insider Activity at PHINIA

In related news, VP Christopher Gustanski sold 3,812 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $72.73, for a total value of $277,246.76. Following the transaction, the vice president owned 14,871 shares of the company's stock, valued at $1,081,567.83. This represents a 20.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Neil Fryer sold 624 shares of the business's 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 sale, the vice president owned 18,180 shares of the company's stock, valued at approximately $1,322,595. This represents a 3.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.20% of the stock is owned by corporate insiders.

PHINIA Stock Up 1.9%

Shares of NYSE:PHIN opened at $79.91 on Friday. PHINIA Inc. has a 52-week low of $41.28 and a 52-week high of $81.11. The stock has a market cap of $2.96 billion, a P/E ratio of 22.32 and a beta of 1.16. The business's 50 day moving average is $69.99 and its 200 day moving average is $64.96. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) 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 company had revenue of $878.00 million for the quarter, compared to analysts' expectations of $838.67 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. PHINIA's revenue was up 10.3% compared to the same quarter last year. Sell-side analysts predict that PHINIA Inc. will post 6.36 EPS for the current year.

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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