PHINIA Inc. $PHIN Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its stake in shares of PHINIA Inc. (NYSE:PHIN) by 39.6% during the first quarter, Holdings Channel.com reports. The firm owned 38,500 shares of the company’s stock after selling 25,200 shares during the period. Gabelli Funds LLC’s holdings in PHINIA were worth $2,635,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC lifted 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% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock valued at $49,000 after buying an additional 750 shares during the period. Hantz Financial Services Inc. raised its position in shares of PHINIA by 76.7% during the 4th quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock worth $61,000 after buying an additional 425 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of PHINIA by 2,529.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,262 shares of the company’s stock worth $79,000 after buying an additional 1,214 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of PHINIA in the 2nd quarter worth approximately $60,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Price Performance

Shares of PHINIA stock opened at $82.30 on Thursday. PHINIA Inc. has a 52 week low of $48.94 and a 52 week high of $86.93. The company has a current ratio of 1.82, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. The stock has a market cap of $3.05 billion, a PE ratio of 22.99 and a beta of 1.13. The company’s 50-day moving average price is $79.49 and its two-hundred day moving average price is $74.28.

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

PHINIA Dividend Announcement

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

Insider Buying and Selling

In other 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 completion of the sale, the vice president owned 6,637 shares in the company, valued at approximately $546,623.32. This represents a 25.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of PHINIA stock in a transaction on 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. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PHIN shares. Weiss Ratings upgraded shares of PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. KeyCorp started coverage on PHINIA in a report on Friday, June 12th. They set an “overweight” rating and a $105.00 target price on the stock. Wall Street Zen upgraded PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. UBS Group upped their target price on 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 investment 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. According to MarketBeat, PHINIA has an average rating of “Moderate Buy” and an average price target of $75.67.

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.