Principal Financial Group Inc. Has $14.36 Million Position in PHINIA Inc. $PHIN

Principal Financial Group Inc. lessened its position in shares of PHINIA Inc. (NYSE:PHIN) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 209,843 shares of the company’s stock after selling 11,776 shares during the period. Principal Financial Group Inc. owned approximately 0.56% of PHINIA worth $14,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PHIN. Tudor Investment Corp ET AL acquired a new position in PHINIA during the 3rd quarter valued at approximately $3,850,000. Intech Investment Management LLC increased its stake in shares of PHINIA by 634.1% in the fourth quarter. Intech Investment Management LLC now owns 119,432 shares of the company’s stock worth $7,487,000 after purchasing an additional 103,162 shares during the period. Voss Capital LP lifted its holdings in shares of PHINIA by 2.8% during the fourth quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock worth $108,295,000 after buying an additional 47,468 shares during the last quarter. Vanguard Group Inc. boosted its holdings in PHINIA by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock valued at $282,740,000 after purchasing an additional 44,599 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in PHINIA in the 4th quarter valued at about $8,639,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analysts Set New Price Targets

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

PHINIA Price Performance

Shares of NYSE:PHIN opened at $78.41 on Friday. PHINIA Inc. has a fifty-two week low of $48.52 and a fifty-two week high of $86.93. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82. The firm has a fifty day moving average price of $79.04 and a 200 day moving average price of $73.92. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 21.90 and a beta of 1.13.

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

PHINIA Dividend Announcement

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

Insider Activity at PHINIA

In related news, VP Michael Coetzee sold 1,250 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 27,009 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, VP Samantha Pombier sold 2,227 shares of the company’s 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 sale, the vice president owned 6,637 shares of the company’s stock, valued at $546,623.32. This trade represents a 25.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.20% of the company’s stock.

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.