PHINIA (NYSE:PHIN) Now Covered by UBS Group

UBS Group assumed coverage on shares of PHINIA (NYSE:PHIN) in a research report report published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $55.00 target price on the stock.

PHINIA Stock Performance

NYSE:PHIN opened at $46.19 on Wednesday. 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 firm’s fifty day simple moving average is $44.22 and its 200 day simple moving average is $41.24. The stock has a market cap of $2.02 billion, a P/E ratio of 9.33 and a beta of 0.86. PHINIA has a twelve month low of $23.46 and a twelve month high of $49.31.

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

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, August 23rd. PHINIA’s dividend payout ratio is currently 20.20%.

Insider Activity at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the transaction, the vice president now owns 29,540 shares in the company, valued at $1,409,353.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PHINIA

A number of hedge funds and other institutional investors have recently bought and sold shares of PHIN. Victory Capital Management Inc. boosted its position in shares of PHINIA by 17.0% in the 4th quarter. Victory Capital Management Inc. now owns 9,729 shares of the company’s stock worth $295,000 after purchasing an additional 1,411 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PHINIA by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 337,218 shares of the company’s stock worth $10,214,000 after acquiring an additional 14,289 shares during the last quarter. Gladius Capital Management LP increased its holdings in shares of PHINIA by 34.3% during the fourth quarter. Gladius Capital Management LP now owns 6,679 shares of the company’s stock valued at $202,000 after acquiring an additional 1,706 shares in the last quarter. Versor Investments LP purchased a new position in shares of PHINIA in the 4th quarter worth about $236,000. Finally, Jump Financial LLC boosted its stake in PHINIA by 38.8% in the 4th quarter. Jump Financial LLC now owns 11,953 shares of the company’s stock worth $362,000 after purchasing an additional 3,342 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

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.