Royce & Associates LP Lowers Position in PHINIA Inc. $PHIN

Royce & Associates LP cut its stake in PHINIA Inc. (NYSE:PHIN) by 20.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,998 shares of the company’s stock after selling 11,292 shares during the period. Royce & Associates LP owned 0.11% of PHINIA worth $2,696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hantz Financial Services Inc. lifted its holdings in PHINIA by 76.7% in the fourth quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock worth $61,000 after buying an additional 425 shares during the period. Global Retirement Partners LLC lifted its holdings in PHINIA by 2,529.2% in the fourth 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 during the period. 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 buying an additional 256 shares during the period. Handelsbanken Fonder AB lifted its holdings in PHINIA by 36.7% in the fourth quarter. Handelsbanken Fonder AB now owns 14,900 shares of the company’s stock worth $934,000 after buying an additional 4,000 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in PHINIA by 1.9% in the fourth quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock worth $464,000 after buying an additional 141 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PHIN. Weiss Ratings lowered shares of PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Freedom Capital cut shares of PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Zacks Research upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Northland Securities set a $93.00 price objective on shares of PHINIA in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, PHINIA has an average rating of “Moderate Buy” and a consensus price target of $68.80.

Insider Buying and Selling

In other news, VP Neil Fryer sold 624 shares of the stock in a transaction that occurred 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 sale, the vice president owned 18,180 shares in the company, valued at $1,322,595. This represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christopher Gustanski sold 3,812 shares of the stock in a transaction that occurred 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 sale, the vice president owned 14,871 shares in the company, valued at approximately $1,081,567.83. The trade was a 20.40% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.20% of the company’s stock.

PHINIA Trading Up 0.0%

NYSE:PHIN opened at $77.45 on Friday. The company’s 50 day moving average price is $72.64 and its 200-day moving average price is $67.50. PHINIA Inc. has a 52 week low of $41.28 and a 52 week high of $81.11. 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 stock has a market cap of $2.87 billion, a price-to-earnings ratio of 21.63 and a beta of 1.16.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.29 EPS for the quarter, beating 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 firm had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $838.67 million. During the same quarter in the prior year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that PHINIA Inc. will post 6.36 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. PHINIA’s dividend payout ratio is presently 33.52%.

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.