PHINIA (NYSE:PHIN) Shares Gap Up After Insider Buying Activity

Shares of PHINIA Inc. (NYSE:PHIN - Get Free Report) gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $40.43, but opened at $42.62. PHINIA shares last traded at $42.45, with a volume of 67,562 shares.

Specifically, CEO Brady D. Ericson acquired 10,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was acquired at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the acquisition, the chief executive officer now owns 436,486 shares of the company's stock, valued at $17,341,588.78. This trade represents a 2.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Analysts Set New Price Targets

Several brokerages recently commented on PHIN. Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. BNP Paribas lowered 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. Northland Securities initiated coverage on PHINIA in a report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price objective on the stock. Bank of America assumed coverage on shares of PHINIA in a research note on Thursday, April 10th. They set a "buy" rating and a $53.00 price objective for the company. Finally, UBS Group reaffirmed a "neutral" rating and set a $45.00 target price (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.50.

PHINIA Trading Down 2.2 %

The company's 50 day simple moving average is $42.12 and its two-hundred day simple moving average is $47.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The company has a market cap of $1.61 billion, a PE ratio of 23.14 and a beta of 1.59.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.10). The business had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. As a group, sell-side analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.67%. This is a boost from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. PHINIA's payout ratio is presently 61.36%.

Institutional Investors Weigh In On PHINIA

A number of hedge funds have recently bought and sold shares of PHIN. Barclays PLC grew its holdings in PHINIA by 336.2% during the 3rd quarter. Barclays PLC now owns 72,805 shares of the company's stock worth $3,351,000 after acquiring an additional 56,114 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of PHINIA in the 3rd quarter valued at about $527,000. Principal Financial Group Inc. lifted its stake in PHINIA by 1.1% during the third quarter. Principal Financial Group Inc. now owns 227,742 shares of the company's stock worth $10,483,000 after purchasing an additional 2,422 shares during the last quarter. CWA Asset Management Group LLC increased its stake in PHINIA by 23.5% in the fourth quarter. CWA Asset Management Group LLC now owns 20,797 shares of the company's stock valued at $1,002,000 after purchasing an additional 3,954 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of PHINIA by 50.8% during the 4th quarter. Ritholtz Wealth Management now owns 28,046 shares of the company's stock worth $1,351,000 after buying an additional 9,442 shares during the last quarter. Institutional investors and hedge funds own 90.94% 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.