CX Institutional Purchases Shares of 733 PHINIA Inc. (NYSE:PHIN)

CX Institutional purchased a new stake in PHINIA Inc. (NYSE:PHIN) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 733 shares of the company’s stock, valued at approximately $31,000.

A number of other large investors have also modified their holdings of PHIN. Smartleaf Asset Management LLC lifted its holdings in shares of PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after acquiring an additional 418 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in PHINIA in the fourth quarter valued at approximately $144,000. AlphaQuest LLC acquired a new position in shares of PHINIA in the 4th quarter valued at $173,000. State of Michigan Retirement System purchased a new position in PHINIA during the 4th quarter worth approximately $203,000. Finally, Optimize Financial Inc acquired a new position in shares of PHINIA in the 4th quarter valued at $206,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Insider Activity

In other news, CEO Brady D. Ericson purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average cost of $39.73 per share, with a total value of $397,300.00. Following the acquisition, the chief executive officer now directly owns 436,486 shares of the company’s stock, valued at approximately $17,341,588.78. This trade represents a 2.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Meggan M. Walsh bought 1,400 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average price of $42.71 per share, with a total value of $59,794.00. Following the purchase, the director now directly owns 7,492 shares of the company’s stock, valued at $319,983.32. The trade was a 22.98% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 11,423 shares of company stock worth $458,069 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

PHINIA Stock Down 1.5%

PHINIA stock opened at $42.17 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.36 and a current ratio of 1.85. PHINIA Inc. has a one year low of $36.25 and a one year high of $57.23. The company has a 50-day simple moving average of $42.23 and a 200-day simple moving average of $46.01. The firm has a market capitalization of $1.68 billion, a P/E ratio of 23.96, a P/E/G ratio of 0.47 and a beta of 1.55.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). The company had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 EPS. As a group, equities analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.56%. The ex-dividend date was Monday, June 2nd. PHINIA’s dividend payout ratio (DPR) is currently 61.36%.

Analyst Ratings Changes

PHIN has been the subject of several analyst reports. Bank of America increased their price target on shares of PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Morgan Stanley dropped their target price on shares of PHINIA from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. BNP Paribas cut PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 target price on the stock. in a report on Wednesday, April 23rd. CL King started coverage on PHINIA in a report on Monday, March 24th. They issued a “buy” rating and a $54.00 price target for the company. Finally, UBS Group reaffirmed a “neutral” rating and set a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Three investment 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.17.

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.