PHINIA Inc. $PHIN Shares Sold by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lessened its stake in PHINIA Inc. (NYSE:PHIN) by 13.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 241,116 shares of the company’s stock after selling 36,412 shares during the quarter. PHINIA accounts for about 1.0% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 26th largest holding. HITE Hedge Asset Management LLC’s holdings in PHINIA were worth $15,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of PHINIA by 151.5% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $27,000 after buying an additional 256 shares during the period. Federation des caisses Desjardins du Quebec lifted its holdings in shares of PHINIA by 2,500.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock valued at $49,000 after buying an additional 750 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of PHINIA by 34.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock valued at $50,000 after buying an additional 222 shares during the period. MAI Capital Management lifted its holdings in shares of PHINIA by 845.4% in the 3rd quarter. MAI Capital Management now owns 917 shares of the company’s stock valued at $53,000 after buying an additional 820 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in shares of PHINIA by 76.7% in the 4th quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock valued at $61,000 after buying an additional 425 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PHIN shares. KeyCorp started coverage on PHINIA in a report on Friday. They issued an “overweight” rating and a $105.00 price objective for the company. Northland Securities set a $93.00 price objective on PHINIA in a report on Friday, February 13th. Zacks Research raised PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Freedom Capital cut PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Weiss Ratings raised PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.83.

Insider Transactions at PHINIA

In related news, VP Michael Coetzee sold 1,250 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $80.61, for a total value of $100,762.50. Following the completion of the transaction, the vice president owned 27,009 shares of the company’s stock, valued at approximately $2,177,195.49. This represents a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Samantha Pombier sold 2,227 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $82.36, for a total value of $183,415.72. Following the completion of the transaction, the vice president directly owned 6,637 shares of the company’s stock, valued at $546,623.32. The trade was a 25.12% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.20% of the company’s stock.

PHINIA Stock Performance

NYSE PHIN opened at $85.25 on Friday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 23.81 and a beta of 1.16. PHINIA Inc. has a twelve month low of $41.59 and a twelve month high of $86.65. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $75.39 and a 200 day moving average of $69.40.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The company had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $838.67 million. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.PHINIA’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. Sell-side analysts anticipate that PHINIA Inc. will post 6.36 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. PHINIA’s dividend payout ratio is presently 33.52%.

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. 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.