Brady Ericson Sells 27,860 Shares of PHINIA (NYSE:PHIN) Stock

Key Points

• CEO Brady Ericson sold 27,860 PHINIA shares at an average price of $68.39, generating approximately $1.91 million. The sale was made to cover tax withholding tied to vested equity awards, leaving him with 330,497 shares.
• PHINIA shares fell 2.3% to $66.89, while the company’s latest quarterly earnings missed estimates by $0.04 per share despite revenue exceeding expectations. Analysts maintain a consensus “Moderate Buy” rating with an $82.00 target price.
• PHINIA declared a quarterly dividend of $0.30 per share, equivalent to $1.20 annually and a 1.8% yield. Institutional investors own approximately 90.94% of the company, with several funds recently increasing their positions.

PHINIA Inc. (NYSE:PHIN - Get Free Report) CEO Brady Ericson sold 27,860 shares of PHINIA stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $68.39, for a total transaction of $1,905,345.40. Following the completion of the transaction, the chief executive officer directly owned 330,497 shares in the company, valued at approximately $22,602,689.83. This trade represents a 7.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PHINIA Trading Down 2.3%

Shares of NYSE:PHIN traded down $1.55 during mid-day trading on Tuesday, hitting $66.89. The stock had a trading volume of 331,241 shares, compared to its average volume of 323,989. The company's 50 day moving average is $76.43 and its 200-day moving average is $74.70. PHINIA Inc. has a 12-month low of $50.79 and a 12-month high of $86.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.34 and a current ratio of 1.81. The company has a market cap of $2.45 billion, a PE ratio of 19.17 and a beta of 1.14.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). The firm had revenue of $940.00 million for the quarter, compared to analysts' expectations of $918.83 million. PHINIA had a return on equity of 13.86% and a net margin of 3.73%. On average, sell-side analysts predict that PHINIA Inc. will post 6.18 EPS for the current year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a $0.30 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. PHINIA's dividend payout ratio is currently 34.38%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. California State Teachers Retirement System grew its stake in PHINIA by 7,907.8% in the 2nd quarter. California State Teachers Retirement System now owns 3,750,388 shares of the company's stock valued at $308,919,000 after buying an additional 3,703,554 shares during the last quarter. Lodge Hill Capital LLC boosted its holdings in PHINIA by 450.8% in the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company's stock valued at $162,966,000 after purchasing an additional 1,948,820 shares during the period. ION Fund Management Ltd acquired a new stake in PHINIA in the 4th quarter worth $32,285,000. Freestone Grove Partners LP grew its position in PHINIA by 1,206.1% in the 4th quarter. Freestone Grove Partners LP now owns 557,097 shares of the company's stock worth $34,924,000 after purchasing an additional 514,442 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of PHINIA by 222.9% during the 3rd quarter. UBS Group AG now owns 466,053 shares of the company's stock worth $26,789,000 after purchasing an additional 321,708 shares during the period. Institutional investors and hedge funds own 90.94% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. KeyCorp initiated coverage on shares of PHINIA in a research report on Friday, June 12th. They set an "overweight" rating and a $105.00 price objective on the stock. UBS Group lowered their price target on shares of PHINIA from $81.00 to $80.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Northland Securities set a $98.00 price target on shares of PHINIA in a research note on Friday, July 31st. Zacks Research lowered PHINIA from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. Finally, Weiss Ratings downgraded PHINIA from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $82.00.

PHINIA Company 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. 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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