Insider Selling: PHINIA (NYSE:PHIN) VP Sells 2,097 Shares

PHINIA Inc. (NYSE:PHIN) VP Christopher Gustanski sold 2,097 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $66.97, for a total transaction of $140,436.09. Following the completion of the sale, the vice president directly owned 11,301 shares in the company, valued at approximately $756,827.97. This represents a 15.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PHINIA Trading Up 0.3%

Shares of PHINIA stock traded up $0.18 during trading on Friday, hitting $66.19. The stock had a trading volume of 216,460 shares, compared to its average volume of 381,451. The firm’s fifty day simple moving average is $74.53 and its 200-day simple moving average is $74.32. The stock has a market cap of $2.43 billion, a PE 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. PHINIA Inc. has a 12 month low of $50.79 and a 12 month high of $86.93.

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). The firm had revenue of $940.00 million for the quarter, compared to analysts’ expectations of $918.83 million. PHINIA had a return on equity of 13.86% and a net margin of 3.73%. As a group, sell-side analysts expect that PHINIA Inc. will post 6.18 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. PHINIA’s payout ratio is 34.38%.

Hedge Funds Weigh In On PHINIA

Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its holdings in shares of PHINIA by 1.9% in the fourth quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock valued at $464,000 after purchasing an additional 141 shares during the period. Baron Wealth Management LLC increased its holdings in PHINIA by 3.7% during the 2nd quarter. Baron Wealth Management LLC now owns 4,542 shares of the company’s stock worth $374,000 after purchasing an additional 160 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in PHINIA by 2.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,748 shares of the company’s stock valued at $548,000 after purchasing an additional 207 shares in the last quarter. Larson Financial Group LLC raised its position in 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 purchasing an additional 256 shares in the last quarter. Finally, Hancock Whitney Corp lifted its holdings in shares of PHINIA by 0.5% in the 3rd quarter. Hancock Whitney Corp now owns 62,643 shares of the company’s stock worth $3,601,000 after buying an additional 311 shares during the period. 90.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PHIN. UBS Group reduced their price target on PHINIA from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Weiss Ratings upgraded PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 1st. Wall Street Zen downgraded PHINIA from a “buy” rating to a “hold” rating in a research report on Sunday, September 6th. Northland Securities set a $98.00 price objective on PHINIA in a research report on Friday, July 31st. Finally, KeyCorp started coverage on PHINIA in a research note on Friday, June 12th. They issued an “overweight” rating and a $105.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.

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.