22,840 Shares in PHINIA Inc. $PHIN Bought by Squarepoint Ops LLC

Squarepoint Ops LLC bought a new stake in shares of PHINIA Inc. (NYSE:PHIN) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 22,840 shares of the company’s stock, valued at approximately $1,016,000. Squarepoint Ops LLC owned about 0.06% of PHINIA at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PHIN. EMC Capital Management bought a new position in shares of PHINIA during the 2nd quarter worth about $39,000. TD Waterhouse Canada Inc. grew its position in PHINIA by 350.0% during the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $42,000 after buying an additional 700 shares in the last quarter. State of Wyoming bought a new position in PHINIA during the second quarter valued at about $60,000. Traub Capital Management LLC acquired a new position in PHINIA in the 2nd quarter valued at approximately $77,000. Finally, Raymond James Financial Inc. acquired a new position in PHINIA in the 2nd quarter valued at approximately $109,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PHINIA news, VP Hongyong Yang sold 893 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $52.43, for a total transaction of $46,819.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Samantha Pombier sold 1,940 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $54.14, for a total value of $105,031.60. Following the completion of the sale, the vice president directly owned 8,869 shares of the company’s stock, valued at approximately $480,167.66. This trade represents a 17.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.00% of the stock is owned by insiders.

PHINIA Stock Up 1.4%

Shares of NYSE:PHIN opened at $60.58 on Monday. PHINIA Inc. has a one year low of $36.25 and a one year high of $61.25. The company has a 50 day moving average of $54.41 and a 200-day moving average of $52.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.72 and a quick ratio of 1.25. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 0.57 and a beta of 1.44.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.42. PHINIA had a net margin of 2.63% and a return on equity of 11.64%. The business had revenue of $908.00 million for the quarter, compared to analyst estimates of $861.57 million. During the same period in the prior year, the business posted $1.17 earnings per share. PHINIA’s revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Monday, November 24th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, November 24th. PHINIA’s dividend payout ratio (DPR) is currently 48.65%.

Wall Street Analyst Weigh In

PHIN has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of PHINIA from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. BNP Paribas Exane upgraded PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price target on the stock in a research report on Monday, November 3rd. Zacks Research lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Citigroup reissued a “neutral” rating on shares of PHINIA in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PHINIA in a research report on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.43.

PHINIA 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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.