PHINIA Inc. (NYSE:PHIN) Shares Purchased by Long Road Investment Counsel LLC

Long Road Investment Counsel LLC boosted its position in shares of PHINIA Inc. (NYSE:PHIN) by 10.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,906 shares of the company’s stock after acquiring an additional 1,200 shares during the period. Long Road Investment Counsel LLC’s holdings in PHINIA were worth $508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHIN. Norges Bank acquired a new position in PHINIA during the 4th quarter worth approximately $16,896,000. Jacobs Levy Equity Management Inc. grew its holdings in PHINIA by 3,027.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock worth $16,839,000 after acquiring an additional 424,168 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in PHINIA by 1,537.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock worth $13,328,000 after acquiring an additional 317,935 shares in the last quarter. Vision One Management Partners LP acquired a new position in PHINIA during the 4th quarter worth approximately $8,379,000. Finally, American Century Companies Inc. grew its holdings in PHINIA by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock worth $39,718,000 after acquiring an additional 251,650 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Trading Up 0.9 %

Shares of PHINIA stock opened at $50.03 on Friday. The company has a fifty day simple moving average of $45.53 and a 200-day simple moving average of $42.11. PHINIA Inc. has a 12-month low of $23.46 and a 12-month high of $52.19. The company has a current ratio of 1.85, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 14.31 and a beta of 0.86.

PHINIA (NYSE:PHIN) last issued its 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 net margin of 2.48% and a return on equity of 8.04%. The company had revenue of $868.00 million during the quarter, compared to analyst estimates of $889.00 million. During the same quarter in the previous year, the company posted $1.61 EPS. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities analysts forecast that PHINIA Inc. will post 3.37 EPS for the current fiscal year.

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Friday, August 23rd.

Insider Activity

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

Analysts Set New Price Targets

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

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.