Dorsey Wright & Associates Buys Shares of 15,453 PHINIA Inc. $PHIN

Dorsey Wright & Associates bought a new stake in PHINIA Inc. (NYSE:PHIN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,453 shares of the company’s stock, valued at approximately $1,058,000.

A number of other hedge funds also recently modified their holdings of PHIN. Vanguard Group Inc. grew its holdings in shares of PHINIA by 1.0% during the fourth 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 in the last quarter. Dimensional Fund Advisors LP raised its position in PHINIA by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,301,996 shares of the company’s stock valued at $144,314,000 after buying an additional 45,214 shares during the period. Voss Capital LP lifted its stake in PHINIA by 2.8% in the 4th quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock worth $108,295,000 after acquiring an additional 47,468 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in PHINIA by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock worth $41,462,000 after acquiring an additional 58,875 shares in the last quarter. Finally, Freestone Grove Partners LP lifted its stake in PHINIA by 1,206.1% in the 4th quarter. Freestone Grove Partners LP now owns 557,097 shares of the company’s stock worth $34,924,000 after acquiring an additional 514,442 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PHINIA Trading Down 1.2%

NYSE:PHIN opened at $80.08 on Friday. PHINIA Inc. has a 12 month low of $46.78 and a 12 month high of $86.93. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 22.37 and a beta of 1.13. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $79.10 and its 200-day moving average is $73.40.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, topping 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 business had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $838.67 million. During the same period in the previous year, the company earned $0.94 earnings per share. PHINIA’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities analysts anticipate that PHINIA Inc. will post 6.24 EPS for the current year.

PHINIA Announces Dividend

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

Insiders Place Their Bets

In other news, VP Samantha Pombier sold 2,227 shares of the firm’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 sale, the vice president directly owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. This trade represents a 25.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of PHINIA stock in a transaction dated Wednesday, June 10th. The stock was 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 in the company, valued at $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 owned by insiders.

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.