PHINIA Inc. (NYSE:PHIN) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its stake in PHINIA Inc. (NYSE:PHIN) by 21.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,988 shares of the company’s stock after selling 30,784 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.29% of PHINIA worth $4,837,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PHIN. Brandywine Global Investment Management LLC purchased a new stake in PHINIA in the 4th quarter valued at about $6,874,000. Janney Montgomery Scott LLC lifted its position in shares of PHINIA by 8.2% during the first quarter. Janney Montgomery Scott LLC now owns 9,196 shares of the company’s stock worth $390,000 after purchasing an additional 698 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of PHINIA by 0.6% in the first quarter. Principal Financial Group Inc. now owns 229,854 shares of the company’s stock valued at $9,753,000 after purchasing an additional 1,270 shares during the period. Barclays PLC boosted its position in PHINIA by 14.7% in the 4th quarter. Barclays PLC now owns 83,529 shares of the company’s stock valued at $4,023,000 after buying an additional 10,724 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in PHINIA by 1.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company’s stock valued at $725,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Up 2.9%

Shares of PHINIA stock opened at $53.88 on Tuesday. The stock has a 50-day simple moving average of $45.35 and a 200-day simple moving average of $45.35. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $57.23. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 0.51 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.86 and a quick ratio of 1.36.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $0.99 by $0.28. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. The company had revenue of $890.00 million for the quarter, compared to the consensus estimate of $836.51 million. During the same quarter last year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors 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 2.00%. The ex-dividend date of this dividend was Monday, June 2nd. PHINIA’s payout ratio is currently 41.70%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BNP Paribas lowered shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price objective for the company. in a report on Wednesday, April 23rd. Bank of America upped their price objective on shares of PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. UBS Group reaffirmed a “neutral” rating and set a $55.00 target price (up previously from $52.00) on shares of PHINIA in a research note on Friday. Wall Street Zen upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Finally, Morgan Stanley decreased their price objective on shares of 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 research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, PHINIA currently has an average rating of “Moderate Buy” and an average target price of $52.83.

Insiders Place Their Bets

In related news, CEO Brady D. Ericson purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were bought at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the transaction, the chief executive officer directly owned 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 accessible through the SEC website. Also, Director Meggan M. Walsh acquired 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 transaction, the director directly owned 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. Over the last three months, insiders acquired 11,423 shares of company stock valued at $458,069. Insiders own 2.00% 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.