PHINIA (NYSE:PHIN) CEO Brady Ericson Sells 27,860 Shares of Stock

PHINIA Inc. (NYSE:PHIN) CEO Brady Ericson sold 27,860 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $68.39, for a total transaction of $1,905,345.40. Following the sale, the chief executive officer owned 330,497 shares of the company’s stock, valued at approximately $22,602,689.83. This represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PHINIA Stock Down 2.3%

PHIN stock opened at $66.89 on Wednesday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 19.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.34 and a current ratio of 1.81. The business’s 50-day moving average is $76.43 and its two-hundred day moving average is $74.70. PHINIA Inc. has a fifty-two week low of $50.79 and a fifty-two week high of $86.93.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). PHINIA had a return on equity of 13.86% and a net margin of 3.73%.The business had revenue of $940.00 million during the quarter, compared to the consensus estimate of $918.83 million. As a group, analysts forecast that PHINIA Inc. will post 6.18 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. PHINIA’s dividend payout ratio (DPR) is 34.38%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Zacks Research cut shares of PHINIA from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Wall Street Zen raised PHINIA from a “hold” rating to a “buy” rating in a report on Saturday. Northland Securities set a $98.00 target price on PHINIA in a research note on Friday, July 31st. KeyCorp began coverage on PHINIA in a report on Friday, June 12th. They issued an “overweight” rating and a $105.00 price target on the stock. Finally, Weiss Ratings cut shares of PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Institutional Investors Weigh In On PHINIA

Several institutional investors have recently modified their holdings of PHIN. Royal Bank of Canada boosted its stake in PHINIA by 464.8% during the first quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock worth $3,214,000 after buying an additional 62,333 shares during the period. AQR Capital Management LLC lifted its stake in PHINIA by 62.3% in the first quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock worth $938,000 after purchasing an additional 8,576 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PHINIA by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock valued at $1,056,000 after buying an additional 1,093 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of PHINIA by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock valued at $41,462,000 after buying an additional 58,875 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of PHINIA by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock valued at $4,000,000 after buying an additional 6,478 shares during the last quarter. 90.94% of the stock is owned by institutional investors.

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.