Matthew Logar Sells 1,257 Shares of PHINIA (NYSE:PHIN) Stock

PHINIA Inc. (NYSE:PHIN) SVP Matthew Logar sold 1,257 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $66.33, for a total transaction of $83,376.81. Following the sale, the senior vice president owned 15,576 shares of the company’s stock, valued at approximately $1,033,156.08. This represents a 7.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

PHINIA Trading Up 0.3%

NYSE:PHIN traded up $0.18 during mid-day trading on Friday, reaching $66.19. 216,460 shares of the company’s stock traded hands, compared to its average volume of 381,451. PHINIA Inc. has a 12-month low of $50.79 and a 12-month high of $86.93. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 18.97 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34. The company has a 50 day moving average price of $74.53 and a 200-day moving average price of $74.32.

PHINIA (NYSE:PHIN) last released its quarterly earnings results 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 business had revenue of $940.00 million for the quarter, compared to the consensus estimate of $918.83 million. On average, sell-side analysts predict that PHINIA Inc. will post 6.18 earnings per share for the current year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued 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 is Friday, September 4th. PHINIA’s dividend payout ratio is currently 34.38%.

Institutional Investors Weigh In On PHINIA

Several hedge funds have recently made changes to their positions in PHIN. Royal Bank of Canada lifted its position in PHINIA by 464.8% during the first quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock valued at $3,214,000 after buying an additional 62,333 shares during the period. AQR Capital Management LLC grew its position in shares of PHINIA by 62.3% in the 1st 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PHINIA by 4.6% in the 1st 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 in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of PHINIA by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock worth $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 lifted its position 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 during the period. 90.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PHIN shares. Wall Street Zen cut shares of PHINIA from a “buy” rating to a “hold” rating in a report on Sunday, September 6th. Zacks Research lowered shares of PHINIA from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Northland Securities set a $98.00 target price on shares of PHINIA in a research report on Friday, July 31st. KeyCorp assumed coverage on shares of PHINIA in a research note on Friday, June 12th. They set an “overweight” rating and a $105.00 target price on the stock. Finally, Weiss Ratings upgraded shares of PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

About PHINIA

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.