Elo Mutual Pension Insurance Co Takes $733,000 Position in PHINIA Inc. $PHIN

Elo Mutual Pension Insurance Co purchased a new position in PHINIA Inc. (NYSE:PHIN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,759 shares of the company’s stock, valued at approximately $733,000.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of PHINIA by 464.8% during the first quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock worth $3,214,000 after buying an additional 62,333 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of PHINIA by 62.3% in the first quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock worth $938,000 after buying an additional 8,576 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in PHINIA by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock worth $1,056,000 after acquiring an additional 1,093 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in PHINIA by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock valued at $41,462,000 after acquiring an additional 58,875 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in PHINIA by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock valued at $4,000,000 after acquiring an additional 6,478 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Neil Fryer sold 624 shares of PHINIA stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total value of $45,396.00. Following the completion of the sale, the vice president owned 18,180 shares in the company, valued at approximately $1,322,595. This trade represents a 3.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher Gustanski sold 3,812 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total value of $277,246.76. Following the completion of the sale, the vice president directly owned 14,871 shares in the company, valued at approximately $1,081,567.83. The trade was a 20.40% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.00% of the company’s stock.

PHINIA Stock Down 3.3%

Shares of PHIN opened at $67.22 on Friday. The firm has a market cap of $2.55 billion, a P/E ratio of 20.68 and a beta of 1.36. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $81.11. The company’s 50-day moving average price is $70.81 and its 200 day moving average price is $61.15. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.17). PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The company had revenue of $889.00 million for the quarter, compared to analysts’ expectations of $843.59 million. During the same period last year, the business earned $0.71 EPS. The company’s quarterly revenue was up 6.7% 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s dividend payout ratio is 33.23%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PHIN. Weiss Ratings reissued a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. UBS Group reaffirmed a “neutral” rating and issued a $76.00 price target on shares of PHINIA in a report on Friday, February 13th. Wall Street Zen upgraded PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. Freedom Capital lowered PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, Northland Securities set a $93.00 target price on PHINIA in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.33.

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.