PHINIA (NYSE:PHIN) Now Covered by Analysts at UBS Group

UBS Group began coverage on shares of PHINIA (NYSE:PHIN) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $55.00 target price on the stock.

PHINIA Stock Performance

PHIN opened at $47.72 on Wednesday. The firm’s fifty day simple moving average is $43.91 and its two-hundred day simple moving average is $41.03. PHINIA has a 52-week low of $23.46 and a 52-week high of $49.31. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 14.99 and a beta of 0.86. The company has a quick ratio of 1.38, a current ratio of 1.85 and a debt-to-equity ratio of 0.47.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27). PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The company had revenue of $868.00 million during the quarter, compared to analysts’ expectations of $889.00 million. During the same period in the prior year, the business posted $1.61 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities analysts anticipate that PHINIA will post 3.37 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, August 23rd.

Insider Buying and Selling at PHINIA

In related news, VP Michael Coetzee sold 900 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the transaction, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Michael Coetzee sold 900 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the sale, the vice president now owns 29,540 shares of the company’s stock, valued at $1,409,353.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert Boyle sold 1,828 shares of PHINIA stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.77, for a total value of $80,011.56. Following the transaction, the vice president now owns 36,337 shares in the company, valued at approximately $1,590,470.49. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PHINIA

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in PHINIA in the 4th quarter valued at about $16,896,000. Jacobs Levy Equity Management Inc. increased its stake in PHINIA by 3,027.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock worth $16,839,000 after acquiring an additional 424,168 shares during the last quarter. Boston Partners raised its position in PHINIA by 1,067.0% in the fourth quarter. Boston Partners now owns 463,710 shares of the company’s stock valued at $13,975,000 after purchasing an additional 423,974 shares during the period. Great Lakes Advisors LLC lifted its stake in shares of PHINIA by 1,537.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock valued at $13,328,000 after purchasing an additional 317,935 shares during the last quarter. Finally, Vision One Management Partners LP purchased a new position in shares of PHINIA during the 4th quarter worth $8,379,000. Hedge funds and other institutional investors 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.