Globeflex Capital L P Makes New $1.43 Million Investment in PHINIA Inc. $PHIN

Globeflex Capital L P purchased a new position in shares of PHINIA Inc. (NYSE:PHIN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,366 shares of the company’s stock, valued at approximately $1,430,000.

A number of other large investors also recently modified their holdings of PHIN. Larson Financial Group LLC grew its position in PHINIA by 151.5% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after acquiring an additional 256 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its position in PHINIA by 2,500.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock valued at $49,000 after purchasing an additional 750 shares during the last quarter. State of Wyoming bought a new position in PHINIA in the second quarter valued at about $60,000. Hantz Financial Services Inc. boosted its stake in shares of PHINIA by 76.7% during the fourth quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock valued at $61,000 after purchasing an additional 425 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of PHINIA by 49.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock valued at $77,000 after purchasing an additional 376 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings downgraded PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Zacks Research lowered shares of PHINIA from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. UBS Group dropped their price target on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Northland Securities set a $98.00 price target on shares of PHINIA in a report on Friday, July 31st. Finally, KeyCorp assumed coverage on shares of PHINIA in a research note on Friday, June 12th. They issued an “overweight” rating and a $105.00 price objective on the stock. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.00.

PHINIA Price Performance

PHINIA stock opened at $71.34 on Tuesday. The stock’s 50 day moving average is $77.84 and its 200 day moving average is $74.90. PHINIA Inc. has a one year low of $50.79 and a one year high of $86.93. The firm has a market cap of $2.61 billion, a P/E ratio of 20.44 and a beta of 1.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34.

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

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. PHINIA’s dividend payout ratio (DPR) is currently 34.38%.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Michael Coetzee sold 1,250 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total transaction of $100,762.50. Following the sale, the vice president owned 27,009 shares of the company’s stock, valued at approximately $2,177,195.49. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Samantha Pombier sold 2,227 shares of the stock in a transaction dated 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 owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. The trade was a 25.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.20% of the stock is owned by insiders.

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.