Christopher Gustanski Sells 2,097 Shares of PHINIA (NYSE:PHIN) Stock

PHINIA Inc. (NYSE:PHIN) VP Christopher Gustanski sold 2,097 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $66.97, for a total transaction of $140,436.09. Following the transaction, the vice president directly owned 11,301 shares of the company’s stock, valued at approximately $756,827.97. This trade represents a 15.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

PHINIA Stock Performance

PHINIA stock opened at $66.19 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.34 and a debt-to-equity ratio of 0.63. The firm has a market cap of $2.43 billion, a P/E ratio of 18.97 and a beta of 1.14. PHINIA Inc. has a 1-year low of $50.79 and a 1-year high of $86.93. The firm has a 50-day moving average of $74.34 and a 200-day moving average of $74.26.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The business had revenue of $940.00 million for the quarter, compared to analysts’ expectations of $918.83 million. PHINIA had a net margin of 3.73% and a return on equity of 13.86%. Sell-side analysts expect that PHINIA Inc. will post 6.18 EPS for the current year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. PHINIA’s dividend payout ratio is currently 34.38%.

Hedge Funds Weigh In On PHINIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voss Capital LP increased its holdings in shares of PHINIA by 2.8% during the fourth quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock valued at $108,295,000 after acquiring an additional 47,468 shares in the last quarter. Intech Investment Management LLC raised its position in shares of PHINIA by 634.1% in the 4th quarter. Intech Investment Management LLC now owns 119,432 shares of the company’s stock worth $7,487,000 after purchasing an additional 103,162 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in PHINIA in the 4th quarter worth about $8,639,000. Weiss Asset Management LP boosted its stake in PHINIA by 345.9% in the 1st quarter. Weiss Asset Management LP now owns 72,300 shares of the company’s stock worth $4,948,000 after purchasing an additional 56,087 shares in the last quarter. Finally, Sei Investments Co. grew its position in PHINIA by 18.5% during the 1st quarter. Sei Investments Co. now owns 181,684 shares of the company’s stock valued at $12,436,000 after purchasing an additional 28,409 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. UBS Group cut their price target on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Northland Securities set a $98.00 price objective on shares of PHINIA in a report on Friday, July 31st. Wall Street Zen cut shares of PHINIA from a “buy” rating to a “hold” rating in a research report on Sunday, September 6th. KeyCorp started coverage on shares of PHINIA in a research note on Friday, June 12th. They set an “overweight” rating and a $105.00 target price on the stock. Finally, Weiss Ratings upgraded shares of PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.50.

PHINIA Company Profile

PHINIA Inc (NYSE: PHIN) is a global supplier of fuel systems, electrical systems and aftermarket products for commercial vehicles, passenger vehicles and industrial applications. The company’s products are designed to support internal-combustion, hybrid and other powertrain technologies.

Its product portfolio includes fuel injectors, fuel pumps, fuel modules, electronic control units, sensors, actuators, ignition components, starters and alternators. PHINIA also provides replacement parts, diagnostic equipment and related service solutions through its aftermarket business, which serves original-equipment and independent repair channels.

PHINIA was established as an independent public company in 2023 through the separation of BorgWarner’s fuel systems and aftermarket businesses.