PHINIA Inc. $PHIN Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in PHINIA Inc. (NYSE:PHIN) by 5.3% in the 1st quarter, HoldingsChannel reports. The firm owned 209,843 shares of the company’s stock after selling 11,776 shares during the quarter. Principal Financial Group Inc.’s holdings in PHINIA were worth $14,362,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Larson Financial Group LLC increased its position in PHINIA by 151.5% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after buying an additional 256 shares during the period. Federation des caisses Desjardins du Quebec grew its position in shares of PHINIA by 2,500.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock worth $49,000 after acquiring an additional 750 shares during the last quarter. State of Wyoming purchased a new position in shares of PHINIA during the second quarter worth approximately $60,000. Hantz Financial Services Inc. increased its holdings in shares of PHINIA by 76.7% in the 4th quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock valued at $61,000 after acquiring an additional 425 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of PHINIA by 2,529.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,262 shares of the company’s stock valued at $79,000 after acquiring an additional 1,214 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at PHINIA

In other news, VP Samantha Pombier sold 2,227 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $82.36, for a total value of $183,415.72. Following the completion of the sale, the vice president owned 6,637 shares in the company, valued at approximately $546,623.32. This trade represents a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Coetzee sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total value of $100,762.50. Following the sale, the vice president owned 27,009 shares in the company, valued at approximately $2,177,195.49. The trade was a 4.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.20% of the stock is currently owned by company insiders.

PHINIA Stock Performance

NYSE:PHIN opened at $78.41 on Friday. The firm’s fifty day simple moving average is $79.04 and its 200 day simple moving average is $73.92. 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 twelve month low of $48.52 and a twelve month high of $86.93. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 21.90 and a beta of 1.13.

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

PHINIA Announces Dividend

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

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.