PHINIA Inc. (NYSE:PHIN) Stake Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,550 shares of the company’s stock after purchasing an additional 1,511 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in PHINIA were worth $508,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Millennium Management LLC boosted its position in PHINIA by 28.3% during the 4th quarter. Millennium Management LLC now owns 2,424,949 shares of the company’s stock valued at $116,810,000 after purchasing an additional 535,222 shares during the period. Dimensional Fund Advisors LP lifted its stake in PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company’s stock valued at $98,653,000 after buying an additional 253,345 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of PHINIA by 32.6% during the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company’s stock valued at $89,928,000 after acquiring an additional 458,650 shares during the period. Voss Capital LP grew its position in shares of PHINIA by 31.8% during the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company’s stock worth $68,261,000 after acquiring an additional 342,081 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of PHINIA by 8.5% during the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company’s stock worth $68,120,000 after acquiring an additional 110,931 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PHIN. Bank of America boosted their target price on shares of PHINIA from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. BNP Paribas downgraded PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Wednesday, April 23rd. UBS Group restated a “neutral” rating and issued a $45.00 target price (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. CL King started coverage on PHINIA in a research note on Monday, March 24th. They set a “buy” rating and a $54.00 target price on the stock. Finally, Morgan Stanley decreased their price target on PHINIA from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, May 19th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PHINIA presently has an average rating of “Moderate Buy” and an average target price of $51.17.

PHINIA Stock Performance

Shares of NYSE PHIN opened at $43.81 on Friday. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $57.23. The firm has a market cap of $1.74 billion, a P/E ratio of 25.03 and a beta of 1.55. The stock has a fifty day moving average price of $42.02 and a two-hundred day moving average price of $46.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90.

PHINIA (NYSE:PHIN) last released its earnings results on Friday, April 25th. The company reported $0.94 earnings per share (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 in the previous year, the firm earned $1.08 earnings per share. PHINIA’s revenue was down 7.8% on a year-over-year basis. Research analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.27 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.47%. PHINIA’s payout ratio is currently 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.