PHINIA Inc. $PHIN Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of PHINIA Inc. (NYSE:PHIN) by 33.1% during the third quarter, Holdings Channel reports. The firm owned 200,116 shares of the company’s stock after selling 99,198 shares during the quarter. Victory Capital Management Inc.’s holdings in PHINIA were worth $11,503,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PHIN. EverSource Wealth Advisors LLC increased its position in shares of PHINIA by 34.4% in the third quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock valued at $50,000 after buying an additional 222 shares in the last quarter. EMC Capital Management acquired a new stake in PHINIA in the 2nd quarter valued at about $39,000. TD Waterhouse Canada Inc. increased its holdings in PHINIA by 350.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $42,000 after acquiring an additional 700 shares in the last quarter. MAI Capital Management raised its position in PHINIA by 845.4% during the third quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after acquiring an additional 820 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of PHINIA in the second quarter valued at about $60,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Price Performance

PHIN stock opened at $64.98 on Thursday. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 19.99 and a beta of 1.36. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $81.11. The stock’s fifty day simple moving average is $71.02 and its 200-day simple moving average is $61.39.

PHINIA (NYSE:PHIN) last released its earnings results on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.17). PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The business had revenue of $889.00 million for the quarter, compared to analysts’ expectations of $843.59 million. During the same quarter last year, the company posted $0.71 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities research analysts expect that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, March 6th. This is an increase from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s payout ratio is currently 36.92%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PHIN shares. Weiss Ratings reissued a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Wall Street Zen upgraded PHINIA from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 22nd. Northland Securities set a $93.00 price target on PHINIA in a research report on Friday, February 13th. UBS Group reissued a “neutral” rating and issued a $76.00 price target on shares of PHINIA in a report on Friday, February 13th. Finally, Freedom Capital lowered PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.33.

Insider Activity at PHINIA

In other PHINIA 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 transaction, the vice president owned 18,180 shares of the company’s stock, valued at $1,322,595. This trade represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher Gustanski sold 3,812 shares of the business’s stock in a transaction 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 directly owned 14,871 shares of the company’s stock, valued at $1,081,567.83. This represents a 20.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is currently owned by company insiders.

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.