Weiss Asset Management LP Acquires 56,087 Shares of PHINIA Inc. $PHIN

Weiss Asset Management LP boosted its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 345.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,300 shares of the company’s stock after purchasing an additional 56,087 shares during the quarter. Weiss Asset Management LP owned about 0.20% of PHINIA worth $4,948,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC grew its stake in shares of PHINIA by 151.5% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after buying an additional 256 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its position in shares of 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 in the last quarter. 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 valued at $61,000 after buying an additional 425 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of PHINIA by 2,529.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,262 shares of the company’s stock valued at $79,000 after acquiring an additional 1,214 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of PHINIA in the 2nd quarter valued at about $60,000. Institutional investors own 90.94% of the company’s stock.

Insider Buying and Selling

In other news, VP Samantha Pombier sold 2,227 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 6,637 shares in the company, valued at approximately $546,623.32. This represents a 25.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael Coetzee sold 1,250 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president directly owned 27,009 shares of the company’s stock, valued at $2,177,195.49. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

PHIN has been the topic of several analyst reports. UBS Group boosted their price objective on PHINIA from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings raised PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research downgraded PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, KeyCorp started coverage on PHINIA in a research report on Friday, June 12th. They set an “overweight” rating and a $105.00 target price on the stock. One 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 stock. According to data from MarketBeat.com, PHINIA currently has an average rating of “Moderate Buy” and a consensus price target of $75.67.

PHINIA Price Performance

PHIN stock opened at $78.23 on Monday. PHINIA Inc. has a 12 month low of $48.94 and a 12 month 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 company has a 50-day moving average price of $79.09 and a 200 day moving average price of $74.00. The stock has a market cap of $2.90 billion, a PE ratio of 21.85 and a beta of 1.13.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company had revenue of $878.00 million for the quarter, compared to the consensus estimate of $838.67 million. During the same period in the prior year, the firm posted $0.94 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that PHINIA Inc. will post 6.24 earnings per share for the current year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.5%. PHINIA’s dividend payout ratio is currently 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.