Ritholtz Wealth Management Has $1.02 Million Stock Holdings in PHINIA Inc. (NYSE:PHIN)

Ritholtz Wealth Management lessened its position in shares of PHINIA Inc. (NYSE:PHIN) by 14.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,048 shares of the company’s stock after selling 3,998 shares during the quarter. Ritholtz Wealth Management owned about 0.06% of PHINIA worth $1,020,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PHIN. Smartleaf Asset Management LLC boosted its stake in PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after acquiring an additional 418 shares during the last quarter. CX Institutional bought a new position in PHINIA in the first quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. bought a new position in PHINIA in the fourth quarter valued at approximately $144,000. AlphaQuest LLC bought a new position in PHINIA in the fourth quarter valued at approximately $173,000. Finally, State of Michigan Retirement System bought a new position in PHINIA in the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Insider Activity

In related news, Director Meggan M. Walsh acquired 1,400 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $42.71 per share, for a total transaction of $59,794.00. Following the purchase, the director now directly owns 7,492 shares in the company, valued at approximately $319,983.32. This trade represents a 22.98% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brady D. Ericson acquired 10,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 disclosure for this purchase can be found here. Insiders purchased 11,423 shares of company stock worth $458,069 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

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

PHINIA Stock Down 1.5%

NYSE:PHIN 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. The company has a market cap of $1.68 billion, a PE ratio of 23.96, a PEG ratio of 0.47 and a beta of 1.55. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $57.23. The stock has a 50-day simple moving average of $42.23 and a 200 day simple moving average of $46.01.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data 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). The firm had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 earnings per share. On average, sell-side analysts expect that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Monday, June 2nd. PHINIA’s payout ratio is 61.36%.

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.