PHINIA (NYSE:PHIN) Shares Gap Up on 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 trading hands.

Specifically, CEO Brady D. Ericson acquired 10,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were purchased at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the purchase, the chief executive officer now owns 436,486 shares in the company, valued at approximately $17,341,588.78. This trade represents a 2.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PHIN shares. BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price for the company. in a report on Wednesday, April 23rd. Bank of America initiated coverage on shares of PHINIA in a report on Thursday, April 10th. They issued a "buy" rating and a $53.00 target price for the company. Northland Securities started coverage on shares of PHINIA in a report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target on the stock. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. Finally, CL King initiated coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 target price for the company. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.50.

PHINIA Price Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. The stock has a 50 day moving average of $42.60 and a 200-day moving average of $47.56. The company has a market cap of $1.68 billion, a PE ratio of 24.08 and a beta of 1.56.

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

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.56%. This is a positive change from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. PHINIA's dividend payout ratio is presently 61.36%.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brandywine Global Investment Management LLC purchased a new position in PHINIA during the fourth quarter valued at approximately $6,874,000. Barclays PLC increased its holdings in shares of PHINIA by 336.2% during the 3rd quarter. Barclays PLC now owns 72,805 shares of the company's stock valued at $3,351,000 after purchasing an additional 56,114 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of PHINIA in the 3rd quarter valued at $527,000. Empowered Funds LLC boosted its holdings in PHINIA by 5.1% during the fourth quarter. Empowered Funds LLC now owns 239,821 shares of the company's stock worth $11,552,000 after buying an additional 11,625 shares in the last quarter. Finally, Ritholtz Wealth Management grew its position in PHINIA by 50.8% during the fourth quarter. Ritholtz Wealth Management now owns 28,046 shares of the company's stock valued at $1,351,000 after buying an additional 9,442 shares during the period. Institutional investors and hedge funds own 90.94% of the company's stock.

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.

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