Royce & Associates LP Sells 11,292 Shares of PHINIA Inc. $PHIN

Royce & Associates LP decreased its stake in shares of PHINIA Inc. (NYSE:PHIN) by 20.8% during the fourth quarter, Holdings Channel reports. The firm owned 42,998 shares of the company’s stock after selling 11,292 shares during the quarter. Royce & Associates LP’s holdings in PHINIA were worth $2,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in PHINIA by 151.5% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $27,000 after purchasing an additional 256 shares during the period. EverSource Wealth Advisors LLC lifted its position in PHINIA by 34.4% during the third quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock valued at $50,000 after purchasing an additional 222 shares during the period. MAI Capital Management lifted its position in PHINIA by 845.4% during the third quarter. MAI Capital Management now owns 917 shares of the company’s stock valued at $53,000 after purchasing an additional 820 shares during the period. Hantz Financial Services Inc. lifted its position in 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. Finally, Global Retirement Partners LLC lifted its position in PHINIA by 2,529.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,262 shares of the company’s stock valued at $79,000 after purchasing an additional 1,214 shares during the period. Institutional investors own 90.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PHIN shares. Freedom Capital downgraded shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. UBS Group reiterated a “neutral” rating and issued a $76.00 price target on shares of PHINIA in a research report on Friday, February 13th. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Northland Securities set a $93.00 price target on shares of PHINIA in a research report on Friday, February 13th. Finally, Weiss Ratings downgraded shares of PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, PHINIA presently has a consensus rating of “Moderate Buy” and an average price target of $68.80.

Insider Buying and Selling at PHINIA

In related news, VP Christopher Gustanski sold 3,812 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total transaction of $277,246.76. Following the completion of the transaction, the vice president directly owned 14,871 shares of the company’s stock, valued at approximately $1,081,567.83. This trade represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Neil Fryer sold 624 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total transaction of $45,396.00. Following the transaction, the vice president directly owned 18,180 shares of the company’s stock, valued at $1,322,595. The trade was a 3.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.20% of the company’s stock.

PHINIA Stock Up 0.0%

Shares of PHIN stock opened at $77.45 on Friday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 21.63 and a beta of 1.16. PHINIA Inc. has a one year low of $41.28 and a one year high of $81.11. The company’s fifty day moving average price is $72.64 and its 200-day moving average price is $67.50. 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 data on Thursday, April 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. The firm had revenue of $878.00 million for the quarter, compared to the consensus estimate of $838.67 million. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $0.94 EPS. Sell-side analysts expect that PHINIA Inc. will post 6.36 EPS for the current fiscal year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, June 9th. PHINIA’s dividend payout ratio (DPR) is presently 33.52%.

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.