PHINIA (NYSE:PHIN) VP Michael Coetzee Sells 1,250 Shares

PHINIA Inc. (NYSE:PHIN) VP Michael Coetzee sold 1,250 shares of the firm’s stock in a transaction 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 transaction, the vice president directly owned 27,009 shares in the company, valued at $2,177,195.49. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

PHINIA Trading Up 4.2%

Shares of PHINIA stock opened at $85.25 on Friday. The company has a market capitalization of $3.16 billion, a P/E ratio of 23.81 and a beta of 1.16. The company’s fifty day moving average is $75.39 and its two-hundred day moving average is $69.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82. PHINIA Inc. has a 1 year low of $41.59 and a 1 year high of $86.65.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.16. The business had revenue of $878.00 million for the quarter, compared to the consensus estimate of $838.67 million. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Analysts forecast that PHINIA Inc. will post 6.36 earnings per share for the current year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. PHINIA’s payout ratio is presently 33.52%.

Institutional Trading of PHINIA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC lifted its stake in shares of PHINIA by 151.5% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $27,000 after purchasing an additional 256 shares during the period. Federation des caisses Desjardins du Quebec lifted its stake in shares of PHINIA by 2,500.0% in the fourth 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 period. EverSource Wealth Advisors LLC lifted its stake in shares of PHINIA by 34.4% in the third 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 period. MAI Capital Management lifted its stake in shares of PHINIA by 845.4% in 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 during the period. Finally, State of Wyoming acquired a new stake in shares of PHINIA in the second quarter valued at about $60,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PHIN shares. UBS Group reaffirmed a “neutral” rating and issued a $76.00 target price on shares of PHINIA in a report on Friday, February 13th. Zacks Research raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Weiss Ratings raised shares of PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, KeyCorp initiated coverage on shares of PHINIA in a report on Friday. They issued an “overweight” rating and a $105.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, PHINIA currently has an average rating of “Moderate Buy” and a consensus target price of $74.83.

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.