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

Vest Financial LLC raised its holdings in PHINIA Inc. (NYSE:PHIN) by 22.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,665 shares of the company’s stock after purchasing an additional 5,062 shares during the quarter. Vest Financial LLC owned 0.06% of PHINIA worth $1,089,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. acquired a new stake in shares of PHINIA in the second quarter valued at $511,000. American Century Companies Inc. grew its stake in shares of PHINIA by 33.2% in the second quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock valued at $39,718,000 after buying an additional 251,650 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of PHINIA in the second quarter valued at $1,663,000. ClariVest Asset Management LLC grew its stake in shares of PHINIA by 205,466.7% in the second quarter. ClariVest Asset Management LLC now owns 30,835 shares of the company’s stock valued at $1,214,000 after buying an additional 30,820 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of PHINIA by 0.7% in the second quarter. LSV Asset Management now owns 780,569 shares of the company’s stock valued at $30,723,000 after buying an additional 5,792 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group began coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price objective for the company.

Insider Buying and Selling

In related news, VP Michael Coetzee sold 900 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

PHINIA Trading Down 0.4 %

PHIN opened at $45.27 on Friday. PHINIA Inc. has a 12 month low of $23.46 and a 12 month high of $49.31. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 14.21 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38. The business has a fifty day moving average price of $44.69 and a 200 day moving average price of $41.50.

PHINIA (NYSE:PHIN) last released its earnings results on Tuesday, July 30th. The company reported $0.88 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 company had revenue of $868.00 million for the quarter, compared to analyst estimates of $889.00 million. During the same period in the previous year, the firm earned $1.61 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Sell-side analysts expect that PHINIA Inc. will post 3.37 earnings per share for the current fiscal year.

PHINIA Announces Dividend

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

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.