Sanctuary Advisors LLC Buys 6,546 Shares of PHINIA Inc. $PHIN

Sanctuary Advisors LLC increased its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 40.1% during the first quarter, HoldingsChannel.com reports. The fund owned 22,859 shares of the company’s stock after buying an additional 6,546 shares during the quarter. Sanctuary Advisors LLC’s holdings in PHINIA were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PHIN. Tudor Investment Corp ET AL acquired a new stake in shares of PHINIA in the 3rd quarter valued at approximately $3,850,000. Intech Investment Management LLC boosted its stake in shares of PHINIA by 634.1% during the fourth quarter. Intech Investment Management LLC now owns 119,432 shares of the company’s stock valued at $7,487,000 after purchasing an additional 103,162 shares in the last quarter. Voss Capital LP grew its holdings in shares of PHINIA by 2.8% during the fourth quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock worth $108,295,000 after purchasing an additional 47,468 shares during the last quarter. Vanguard Group Inc. raised its holdings in PHINIA by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock valued at $282,740,000 after buying an additional 44,599 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in PHINIA in the 4th quarter valued at approximately $8,639,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Stock Down 1.7%

Shares of PHINIA stock opened at $78.41 on Friday. 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 Inc. has a 12-month low of $48.52 and a 12-month high of $86.93. The company has a market cap of $2.90 billion, a P/E ratio of 21.90 and a beta of 1.13. The company’s fifty day simple moving average is $79.04 and its two-hundred day simple moving average is $73.92.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, beating 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 analyst estimates of $838.67 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The company’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 EPS for the current year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $1.20 annualized dividend and a yield of 1.5%. PHINIA’s dividend payout ratio is currently 33.52%.

Insiders Place Their Bets

In other PHINIA news, VP Michael Coetzee sold 1,250 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,177,195.49. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Samantha Pombier sold 2,227 shares of the firm’s stock in a transaction dated 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 directly owned 6,637 shares in the company, valued at approximately $546,623.32. This represents a 25.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Zacks Research lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. UBS Group lifted their target price on shares of PHINIA from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Weiss Ratings raised PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Finally, KeyCorp assumed coverage on shares of PHINIA in a research report on Friday, June 12th. They set an “overweight” rating and a $105.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, PHINIA currently has an average rating of “Moderate Buy” and a consensus target price of $75.67.

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.