Peregrine Capital Management LLC Sells 9,120 Shares of PHINIA Inc. $PHIN

Peregrine Capital Management LLC reduced its position in PHINIA Inc. (NYSE:PHIN) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,977 shares of the company’s stock after selling 9,120 shares during the quarter. Peregrine Capital Management LLC’s holdings in PHINIA were worth $6,500,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in shares of 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. Federation des caisses Desjardins du Quebec grew its position in PHINIA by 2,500.0% in the 4th 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 during the last quarter. EverSource Wealth Advisors LLC grew its position in PHINIA by 34.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock valued at $50,000 after acquiring an additional 222 shares during the last quarter. MAI Capital Management increased its stake in PHINIA by 845.4% in the third quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after purchasing an additional 820 shares during the period. Finally, State of Wyoming purchased a new stake in PHINIA in the second quarter worth $60,000. Institutional investors own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

PHIN has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. KeyCorp started coverage on shares of PHINIA in a research note on Friday, June 12th. They issued an “overweight” rating and a $105.00 price target on the stock. Zacks Research upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.83.

PHINIA Price Performance

Shares of PHIN opened at $78.08 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82. The company has a 50 day moving average price of $78.16 and a 200-day moving average price of $71.95. PHINIA Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $86.93. The stock has a market capitalization of $2.89 billion, a PE ratio of 21.81 and a beta of 1.12.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. The company had revenue of $878.00 million for 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%. PHINIA’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. Equities analysts predict that PHINIA Inc. will post 6.24 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

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

Insiders Place Their Bets

In other news, VP Samantha Pombier sold 2,227 shares of PHINIA stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $82.36, for a total value of $183,415.72. Following the transaction, the vice president directly owned 6,637 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of the business’s 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 directly owned 27,009 shares of the company’s stock, valued at approximately $2,177,195.49. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.20% of the company’s stock.

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.