PHINIA (NYSE:PHIN) Sets New 12-Month High – What’s Next?

Shares of PHINIA Inc. (NYSE:PHIN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $73.20 and last traded at $71.54, with a volume of 390852 shares. The stock had previously closed at $71.27.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. BNP Paribas Exane raised PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price objective on the stock in a report on Monday, November 3rd. Citigroup reissued a “neutral” rating on shares of PHINIA in a research note on Tuesday, October 14th. UBS Group boosted their price objective on shares of PHINIA from $59.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.17.

PHINIA Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average price is $63.44 and its 200-day moving average price is $57.77. The stock has a market cap of $2.75 billion, a P/E ratio of 32.23 and a beta of 1.37.

PHINIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a $0.30 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from PHINIA’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. PHINIA’s dividend payout ratio is presently 48.65%.

Insider Activity

In related news, VP Samantha Pombier sold 1,940 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $54.14, for a total transaction of $105,031.60. Following the transaction, the vice president owned 8,869 shares in the company, valued at $480,167.66. The trade was a 17.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Hongyong Yang sold 893 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $52.43, for a total value of $46,819.99. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PHINIA

Hedge funds have recently made changes to their positions in the business. EMC Capital Management bought a new position in shares of PHINIA during the second quarter valued at approximately $39,000. TD Waterhouse Canada Inc. increased its position in PHINIA by 350.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $42,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC raised its holdings in PHINIA by 34.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock worth $50,000 after purchasing an additional 222 shares in the last quarter. MAI Capital Management lifted its position in shares of PHINIA by 845.4% in the 3rd quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after purchasing an additional 820 shares during the period. Finally, State of Wyoming purchased a new stake in shares of PHINIA in the 2nd quarter worth about $60,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

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.