Mitsubishi UFJ Trust & Banking Corp Acquires 30,966 Shares of PHINIA Inc. $PHIN

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in PHINIA Inc. (NYSE:PHIN) by 736.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,170 shares of the company’s stock after purchasing an additional 30,966 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of PHINIA worth $2,022,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PHIN. EMC Capital Management purchased a new position in shares of PHINIA in the second quarter worth $39,000. TD Waterhouse Canada Inc. increased its holdings in PHINIA by 350.0% in 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 during the last quarter. State of Wyoming purchased a new stake in PHINIA in the 2nd quarter worth $60,000. Traub Capital Management LLC purchased a new stake in PHINIA in the 2nd quarter worth $77,000. Finally, CWM LLC boosted its holdings in shares of PHINIA by 76.8% during the 3rd quarter. CWM LLC now owns 1,448 shares of the company’s stock valued at $83,000 after purchasing an additional 629 shares during the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other PHINIA news, VP Hongyong Yang sold 893 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $52.43, for a total transaction of $46,819.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Samantha Pombier sold 1,940 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $54.14, for a total value of $105,031.60. Following the transaction, the vice president directly owned 8,869 shares in the company, valued at approximately $480,167.66. This represents a 17.95% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.00% of the company’s stock.

PHINIA Stock Performance

NYSE PHIN opened at $71.25 on Friday. The business’s 50 day moving average price is $62.44 and its 200-day moving average price is $57.23. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $72.04. The company has a market cap of $2.74 billion, a P/E ratio of 32.09 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.72.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.42. PHINIA had a return on equity of 11.64% and a net margin of 2.63%.The company had revenue of $908.00 million during the quarter, compared to the consensus estimate of $861.57 million. During the same period last year, the company earned $1.17 earnings per share. PHINIA’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s dividend payout ratio is presently 48.65%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of PHINIA in a report on Tuesday, October 14th. BNP Paribas Exane upgraded PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price target for the company in a report on Monday, November 3rd. Zacks Research raised PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Northland Securities increased their target price on PHINIA from $65.00 to $79.00 and gave the company an “outperform” rating in a research report on Tuesday, December 30th. Finally, Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, PHINIA has a consensus rating of “Moderate Buy” and a consensus target price of $63.17.

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.