Vest Financial LLC Boosts Stake in PHINIA Inc. (NYSE:PHIN)

Vest Financial LLC increased its position in PHINIA Inc. (NYSE:PHIN) by 22.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 27,665 shares of the company’s stock after purchasing an additional 5,062 shares during the period. Vest Financial LLC’s holdings in PHINIA were worth $1,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PHIN. Quarry LP purchased a new stake in shares of PHINIA in the 4th quarter valued at about $37,000. Fidelis Capital Partners LLC purchased a new stake in shares of PHINIA in the 1st quarter valued at about $37,000. Cape Investment Advisory Inc. purchased a new stake in shares of PHINIA in the 4th quarter valued at about $39,000. GAMMA Investing LLC lifted its holdings in shares of PHINIA by 100.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after purchasing an additional 567 shares during the last quarter. Finally, TFO Wealth Partners LLC purchased a new stake in shares of PHINIA in the 4th quarter valued at about $48,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group initiated coverage on PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company.

Insider Transactions at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total transaction of $42,939.00. Following the completion of the transaction, the vice president now directly owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

PHINIA Stock Down 0.4 %

PHIN opened at $45.27 on Friday. The business has a 50 day moving average price of $44.69 and a two-hundred day moving average price of $41.50. The company has a quick ratio of 1.38, a current ratio of 1.85 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.98 billion, a PE ratio of 14.21 and a beta of 0.86. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $49.31.

PHINIA (NYSE:PHIN) last issued its earnings results on Tuesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.27). The firm had revenue of $868.00 million during the quarter, compared to analysts’ expectations of $889.00 million. PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 EPS. As a group, research analysts anticipate that PHINIA Inc. will post 3.37 EPS for the current year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, August 23rd.

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.