PHINIA (NYSE:PHIN) CFO Chris Gropp Sells 13,500 Shares of Stock

PHINIA Inc. (NYSE:PHIN) CFO Chris Gropp sold 13,500 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $66.71, for a total value of $900,585.00. Following the transaction, the chief financial officer owned 43,823 shares in the company, valued at approximately $2,923,432.33. This trade represents a 23.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PHINIA Price Performance

Shares of NYSE:PHIN opened at $66.19 on Friday. The stock has a market capitalization of $2.43 billion, a P/E ratio of 18.97 and a beta of 1.14. The business has a 50-day moving average of $74.34 and a two-hundred day moving average of $74.26. PHINIA Inc. has a fifty-two week low of $50.79 and a fifty-two week high of $86.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). PHINIA had a net margin of 3.73% and a return on equity of 13.86%. The company had revenue of $940.00 million for the quarter, compared to analyst estimates of $918.83 million. On average, equities research analysts predict that PHINIA Inc. will post 6.18 EPS for the current fiscal year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 4th. PHINIA’s dividend payout ratio (DPR) is 34.38%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group lowered their target price on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Wall Street Zen lowered shares of PHINIA from a “buy” rating to a “hold” rating in a research report on Sunday, September 6th. Zacks Research cut shares of PHINIA from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Weiss Ratings raised PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 1st. Finally, Northland Securities set a $98.00 price target on PHINIA in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

Institutional Investors Weigh In On PHINIA

Several hedge funds have recently modified their holdings of the business. Larson Financial Group LLC lifted its position in shares of PHINIA by 151.5% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after acquiring an additional 256 shares during the period. Nykredit A S bought a new stake in shares of PHINIA during the second quarter valued at approximately $38,000. Integrated Wealth Concepts LLC acquired a new position in shares of PHINIA in the second quarter valued at $39,000. Federation des caisses Desjardins du Quebec raised its stake in shares of PHINIA by 2,500.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock valued at $49,000 after purchasing an additional 750 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in PHINIA by 76.7% in the fourth quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock worth $61,000 after purchasing an additional 425 shares during the period. 90.94% of the stock is owned by institutional investors.

About PHINIA

PHINIA Inc (NYSE: PHIN) is a global supplier of fuel systems, electrical systems and aftermarket products for commercial vehicles, passenger vehicles and industrial applications. The company’s products are designed to support internal-combustion, hybrid and other powertrain technologies.

Its product portfolio includes fuel injectors, fuel pumps, fuel modules, electronic control units, sensors, actuators, ignition components, starters and alternators. PHINIA also provides replacement parts, diagnostic equipment and related service solutions through its aftermarket business, which serves original-equipment and independent repair channels.

PHINIA was established as an independent public company in 2023 through the separation of BorgWarner’s fuel systems and aftermarket businesses.