Weiss Asset Management LP Buys 56,087 Shares of PHINIA Inc. $PHIN

Weiss Asset Management LP raised its stake in PHINIA Inc. (NYSE:PHIN) by 345.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 72,300 shares of the company’s stock after buying an additional 56,087 shares during the period. Weiss Asset Management LP’s holdings in PHINIA were worth $4,948,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its stake in PHINIA by 151.5% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after acquiring an additional 256 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its stake in shares of PHINIA by 2,500.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock valued at $49,000 after acquiring an additional 750 shares in the last quarter. State of Wyoming bought a new stake in shares of PHINIA during the second quarter valued at approximately $60,000. Hantz Financial Services Inc. boosted its holdings in shares of PHINIA by 76.7% in 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 boosted its holdings in shares of PHINIA by 2,529.2% in 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. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Trading Down 0.2%

NYSE:PHIN opened at $78.23 on Monday. The firm has a 50-day simple moving average of $79.09 and a 200-day simple moving average of $74.00. PHINIA Inc. has a one year low of $48.94 and a one year high of $86.93. The firm has a market cap of $2.90 billion, a P/E ratio of 21.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. Equities analysts anticipate that PHINIA Inc. will post 6.24 EPS for the current fiscal year.

PHINIA Announces Dividend

The business 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. The ex-dividend date was Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. PHINIA’s dividend payout ratio is currently 33.52%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group increased their price objective on PHINIA from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings raised PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Zacks Research cut PHINIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. KeyCorp began coverage on PHINIA in a report on Friday, June 12th. They issued an “overweight” rating and a $105.00 target price for the company. Finally, Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. One 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 stock. According to data from MarketBeat, PHINIA currently has an average rating of “Moderate Buy” and an average target price of $75.67.

Insider Buying and Selling at PHINIA

In other PHINIA 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 transaction of $183,415.72. Following the sale, the vice president owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. This trade represents a 25.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of PHINIA 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 completion of the transaction, the vice president owned 27,009 shares in the company, valued at $2,177,195.49. This represents 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 currently owned by company insiders.

PHINIA Company 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.