Western Wealth Management LLC Invests $313,000 in PHINIA Inc. (NYSE:PHIN)

Western Wealth Management LLC bought a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,500 shares of the company's stock, valued at approximately $313,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after buying an additional 418 shares in the last quarter. KBC Group NV increased its stake in shares of PHINIA by 45.8% in the 4th quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after purchasing an additional 685 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in PHINIA during the fourth quarter worth $144,000. AlphaQuest LLC acquired a new position in shares of PHINIA during the fourth quarter valued at approximately $173,000. Finally, State of Michigan Retirement System purchased a new position in shares of PHINIA in the fourth quarter worth about $203,000. 90.94% of the stock is currently owned by institutional investors.

Insider Transactions at PHINIA

In other news, CEO Brady D. Ericson bought 10,000 shares of PHINIA stock in a transaction on Wednesday, April 30th. The shares were bought at an average price of $39.73 per share, with a total value of $397,300.00. Following the acquisition, the chief executive officer now directly owns 436,486 shares in the company, valued at approximately $17,341,588.78. This represents a 2.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Meggan M. Walsh bought 1,400 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was bought at an average price of $42.71 per share, with a total value of $59,794.00. Following the completion of the purchase, the director now owns 7,492 shares of the company's stock, valued at $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on PHIN. CL King began coverage on PHINIA in a report on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective on the stock. Northland Securities began coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target on the stock. BNP Paribas downgraded shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a research report on Wednesday, April 23rd. Morgan Stanley reduced their target price on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, Bank of America lifted their price target on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.17.

PHINIA Trading Down 0.8%

PHIN stock traded down $0.34 during midday trading on Thursday, hitting $43.55. The stock had a trading volume of 105,945 shares, compared to its average volume of 588,365. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $57.23. The firm has a market cap of $1.73 billion, a PE ratio of 24.89 and a beta of 1.59. The company's 50-day moving average price is $41.91 and its 200 day moving average price is $47.12. 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 (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $796.00 million for the quarter, compared to analysts' expectations of $813.24 million. During the same quarter in the previous year, the company earned $1.08 earnings per share. The company's revenue was down 7.8% on a year-over-year basis. On average, equities research analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Monday, June 2nd. PHINIA's dividend 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.