US Bancorp DE Sells 6,017 Shares of PHINIA Inc. $PHIN

US Bancorp DE lessened its stake in shares of PHINIA Inc. (NYSE:PHIN) by 18.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,785 shares of the company’s stock after selling 6,017 shares during the period. US Bancorp DE owned 0.06% of PHINIA worth $1,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Nisa Investment Advisors LLC increased its stake in shares of PHINIA by 1.6% in 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 during the last quarter. OneDigital Investment Advisors LLC grew its position in PHINIA by 3.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 9,253 shares of the company’s stock worth $393,000 after acquiring an additional 279 shares during the last quarter. SummerHaven Investment Management LLC grew its position in PHINIA by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 19,275 shares of the company’s stock worth $858,000 after acquiring an additional 340 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in PHINIA by 1.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 24,643 shares of the company’s stock worth $1,046,000 after acquiring an additional 396 shares during the last quarter. Finally, Hancock Whitney Corp grew its position in PHINIA by 0.9% during the 1st quarter. Hancock Whitney Corp now owns 60,096 shares of the company’s stock worth $2,550,000 after acquiring an additional 549 shares during the last quarter. Institutional investors own 90.94% of the company’s stock.

Analyst Ratings Changes

PHIN has been the topic of a number of research reports. Citigroup restated a “neutral” rating on shares of PHINIA in a research report on Tuesday. Bank of America boosted their price objective on PHINIA from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Wall Street Zen upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Saturday, July 26th. Morgan Stanley increased their price target on PHINIA from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PHINIA in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.83.

PHINIA Stock Performance

Shares of PHINIA stock opened at $53.01 on Friday. PHINIA Inc. has a one year low of $36.25 and a one year high of $59.88. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 0.51 and a beta of 1.48. The business has a 50-day simple moving average of $56.64 and a 200 day simple moving average of $48.56. 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 issued its earnings results on Thursday, July 24th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.28. PHINIA had a return on equity of 10.74% and a net margin of 3.22%.The business had revenue of $890.00 million during the quarter, compared to analyst estimates of $836.51 million. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. PHINIA has set its FY 2025 guidance at EPS. On average, research analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. PHINIA’s dividend payout ratio is 41.70%.

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.