Globeflex Capital L P Makes New Investment in PHINIA Inc. $PHIN

Globeflex Capital L P bought a new stake in PHINIA Inc. (NYSE:PHIN) during the first quarter, Holdings Channel reports. The institutional investor bought 17,167 shares of the company’s stock, valued at approximately $1,175,000.

A number of other large investors also recently made changes to their positions in PHIN. ProShare Advisors LLC boosted its position in PHINIA by 1.9% in the fourth quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock worth $464,000 after purchasing an additional 141 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV raised its stake in shares of PHINIA by 2.7% in the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 5,816 shares of the company’s stock valued at $365,000 after buying an additional 155 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of PHINIA by 2.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,748 shares of the company’s stock valued at $548,000 after buying an additional 207 shares during the period. Old North State Wealth Management LLC lifted its position in shares of PHINIA by 2.5% during the 4th quarter. Old North State Wealth Management LLC now owns 10,253 shares of the company’s stock valued at $643,000 after buying an additional 250 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of PHINIA by 151.5% during 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 last quarter. 90.94% of the stock is owned by institutional investors.

PHINIA Stock Performance

Shares of PHIN opened at $79.65 on Thursday. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 22.25 and a beta of 1.13. The business’s fifty day simple moving average is $79.07 and its two-hundred day simple moving average is $73.82. PHINIA Inc. has a 12 month low of $47.83 and a 12 month high of $86.93. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The company had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $838.67 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. PHINIA’s revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts anticipate that PHINIA Inc. will post 6.24 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

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

Analysts Set New Price Targets

PHIN has been the subject of several analyst reports. Zacks Research downgraded shares of PHINIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. UBS Group boosted their price objective on PHINIA from $76.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 8th. Finally, KeyCorp began coverage on PHINIA in a research note on Friday, June 12th. They issued an “overweight” rating and a $105.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, PHINIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.67.

Insider Buying and Selling

In other PHINIA news, VP Samantha Pombier sold 2,227 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total value of $183,415.72. Following the sale, the vice president owned 6,637 shares in the company, valued at $546,623.32. The trade was a 25.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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 trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is currently owned by company insiders.

PHINIA 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.