Peregrine Capital Management LLC Cuts Stake in PHINIA Inc. $PHIN

Peregrine Capital Management LLC lowered its stake in shares of PHINIA Inc. (NYSE:PHIN) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,977 shares of the company’s stock after selling 9,120 shares during the period. Peregrine Capital Management LLC owned 0.25% of PHINIA worth $6,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in PHINIA by 151.5% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $27,000 after acquiring an additional 256 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in shares of PHINIA by 2,500.0% during the 4th 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 during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of PHINIA by 34.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock valued at $50,000 after purchasing an additional 222 shares during the last quarter. MAI Capital Management grew its position in shares of PHINIA by 845.4% during the third quarter. MAI Capital Management now owns 917 shares of the company’s stock valued at $53,000 after purchasing an additional 820 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of PHINIA during the second quarter valued at about $60,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Performance

Shares of NYSE:PHIN opened at $78.08 on Thursday. PHINIA Inc. has a 52 week low of $46.43 and a 52 week high of $86.93. The stock has a market capitalization of $2.89 billion, a P/E ratio of 21.81 and a beta of 1.12. The firm has a fifty day simple moving average of $78.16 and a two-hundred day simple moving average of $71.95. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62.

PHINIA (NYSE:PHIN) last posted its 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. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The firm had revenue of $878.00 million for the quarter, compared to the consensus estimate of $838.67 million. During the same period in the previous year, the firm posted $0.94 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts expect that PHINIA Inc. will post 6.24 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 9th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 9th. PHINIA’s payout ratio is presently 33.52%.

Analyst Ratings Changes

PHIN has been the topic of several research reports. KeyCorp assumed coverage on PHINIA in a report on Friday, June 12th. They issued an “overweight” rating and a $105.00 target price on the stock. Zacks Research upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Weiss Ratings cut PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.83.

Insider Buying and Selling

In other PHINIA news, VP Michael Coetzee sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $80.61, for a total transaction of $100,762.50. Following the sale, the vice president directly owned 27,009 shares in the company, valued at $2,177,195.49. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Samantha Pombier sold 2,227 shares of PHINIA stock in a transaction that occurred on 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 owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. This trade represents 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.

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.