PHINIA Inc. (NYSE:PHIN) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its holdings in PHINIA Inc. (NYSE:PHIN) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,196 shares of the company’s stock after acquiring an additional 698 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PHINIA were worth $390,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brandywine Global Investment Management LLC acquired a new position in shares of PHINIA in the fourth quarter worth about $6,874,000. Barclays PLC lifted its stake in shares of PHINIA by 14.7% in the fourth quarter. Barclays PLC now owns 83,529 shares of the company’s stock worth $4,023,000 after acquiring an additional 10,724 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of PHINIA by 4.2% in the fourth quarter. Alliancebernstein L.P. now owns 60,963 shares of the company’s stock worth $2,937,000 after acquiring an additional 2,445 shares in the last quarter. SG Americas Securities LLC acquired a new stake in PHINIA during the first quarter valued at approximately $357,000. Finally, BNP Paribas Financial Markets acquired a new stake in PHINIA during the fourth quarter valued at approximately $299,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Insider Activity at PHINIA

In related news, Director Meggan M. Walsh bought 1,400 shares of the stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of $42.71 per share, with a total value of $59,794.00. Following the completion of the acquisition, the director owned 7,492 shares of the company’s stock, valued at $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brady D. Ericson bought 10,000 shares of the stock in a transaction dated Wednesday, April 30th. The shares were bought at an average cost of $39.73 per share, with a total value of $397,300.00. Following the completion of the acquisition, the chief executive officer directly owned 436,486 shares of the company’s stock, valued at approximately $17,341,588.78. The trade was a 2.34% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 11,423 shares of company stock valued at $458,069 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PHIN. UBS Group restated a “neutral” rating and set a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. BNP Paribas cut PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a research note on Wednesday, April 23rd. Morgan Stanley cut their price objective on PHINIA from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, May 19th. CL King began coverage on PHINIA in a research note on Monday, March 24th. They set a “buy” rating and a $54.00 price objective on the stock. Finally, Bank of America upped their price objective on PHINIA from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PHINIA presently has an average rating of “Moderate Buy” and an average price target of $51.17.

PHINIA Stock Down 1.0%

NYSE:PHIN opened at $47.35 on Friday. The firm has a market capitalization of $1.89 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49. The stock has a 50 day moving average of $43.26 and a 200-day moving average of $45.28. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $57.23. The company has a current ratio of 1.85, a quick ratio of 1.36 and a debt-to-equity ratio of 0.63.

PHINIA (NYSE:PHIN) last posted its earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). The company had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a net margin of 2.28% and a return on equity of 9.88%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the company posted $1.08 earnings per share. Analysts predict that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Monday, June 2nd. PHINIA’s dividend payout ratio (DPR) is presently 61.36%.

About PHINIA

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.