PHINIA Inc. $PHIN Shares Bought by Prevatt Capital Ltd

Prevatt Capital Ltd lifted its position in shares of PHINIA Inc. (NYSE:PHIN) by 18.8% in the first quarter, HoldingsChannel.com reports. The fund owned 380,000 shares of the company’s stock after buying an additional 60,000 shares during the period. PHINIA comprises approximately 7.0% of Prevatt Capital Ltd’s portfolio, making the stock its 5th biggest holding. Prevatt Capital Ltd’s holdings in PHINIA were worth $26,007,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Royal Bank of Canada increased its stake in PHINIA by 464.8% in the first quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock valued at $3,214,000 after acquiring an additional 62,333 shares during the last quarter. AQR Capital Management LLC lifted its stake in PHINIA by 62.3% during the first quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock worth $938,000 after purchasing an additional 8,576 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in PHINIA by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock worth $1,056,000 after purchasing an additional 1,093 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of PHINIA by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock valued at $41,462,000 after purchasing an additional 58,875 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of PHINIA by 7.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock valued at $4,000,000 after purchasing an additional 6,478 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PHIN shares. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research lowered PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings cut PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Finally, KeyCorp assumed coverage on PHINIA in a research report 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 and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.83.

Insider Transactions at PHINIA

In other PHINIA news, VP Samantha Pombier sold 2,227 shares of the company’s 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 transaction, the vice president owned 6,637 shares of the company’s stock, valued at $546,623.32. This represents a 25.12% 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 Michael Coetzee sold 1,250 shares of the 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 completion of the transaction, the vice president owned 27,009 shares of the company’s stock, valued at $2,177,195.49. This represents a 4.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is owned by corporate insiders.

PHINIA Stock Performance

Shares of PHINIA stock opened at $75.58 on Friday. The company’s 50 day moving average price is $78.22 and its two-hundred day moving average price is $72.07. The firm has a market capitalization of $2.80 billion, a P/E ratio of 21.11 and a beta of 1.13. PHINIA Inc. has a fifty-two week low of $46.70 and a fifty-two week high of $86.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32.

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, topping the consensus estimate of $1.13 by $0.16. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company 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 business earned $0.94 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts forecast that PHINIA Inc. will post 6.24 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. PHINIA’s payout ratio is currently 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.