Globeflex Capital L P Takes $1.43 Million Position in PHINIA Inc. $PHIN

Globeflex Capital L P bought a new stake in shares of PHINIA Inc. (NYSE:PHIN) during the second quarter, Holdings Channel reports. The institutional investor bought 17,366 shares of the company’s stock, valued at approximately $1,430,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Larson Financial Group LLC grew its holdings in PHINIA by 151.5% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after purchasing an additional 256 shares during the period. Federation des caisses Desjardins du Quebec increased its stake in 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 in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of PHINIA by 76.7% during the fourth quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock valued at $61,000 after purchasing an additional 425 shares during the period. C M Bidwell & Associates Ltd. bought a new position in shares of PHINIA during the 2nd quarter worth about $84,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of PHINIA by 49.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock worth $77,000 after purchasing an additional 376 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Insider Activity at PHINIA

In related news, VP Samantha Pombier sold 2,227 shares of the stock in a transaction on 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 directly owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. This represents a 25.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael Coetzee sold 1,250 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total value of $100,762.50. Following the transaction, the vice president owned 27,009 shares in the company, valued at approximately $2,177,195.49. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PHIN has been the subject of a number of research analyst reports. KeyCorp started coverage on PHINIA in a research report on Friday, June 12th. They issued an “overweight” rating and a $105.00 target price for the company. UBS Group reduced their price objective on PHINIA from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Weiss Ratings downgraded PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Wall Street Zen lowered PHINIA from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Northland Securities set a $98.00 target price on PHINIA in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

PHINIA Trading Down 1.9%

NYSE:PHIN opened at $71.34 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34. PHINIA Inc. has a one year low of $50.79 and a one year high of $86.93. The company has a market cap of $2.61 billion, a PE ratio of 20.44 and a beta of 1.17. The firm has a 50-day moving average of $77.84 and a 200-day moving average of $74.90.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The company had revenue of $940.00 million for the quarter, compared to analyst estimates of $918.83 million. PHINIA had a net margin of 3.73% and a return on equity of 13.86%. As a group, equities research analysts expect that PHINIA Inc. will post 6.18 EPS for the current fiscal year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 4th. PHINIA’s dividend payout ratio (DPR) is currently 34.38%.

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.