UBS Group Initiates Coverage on PHINIA (NYSE:PHIN)

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

PHINIA Stock Performance

NYSE PHIN opened at $46.19 on Wednesday. PHINIA has a 52-week low of $23.46 and a 52-week high of $49.31. The company has a fifty day moving average of $44.22 and a 200-day moving average of $41.24. The company has a market capitalization of $2.02 billion, a P/E ratio of 9.33 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85.

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

PHINIA Dividend Announcement

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

Insider Transactions at PHINIA

In related news, VP Michael Coetzee sold 900 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the transaction, the vice president now owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On PHINIA

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

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.