PHINIA Inc. $PHIN Shares Sold by SkyView Investment Advisors LLC
by Danessa Lincoln · The Markets DailySkyView Investment Advisors LLC cut its position in shares of PHINIA Inc. (NYSE:PHIN – Free Report) by 81.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,000 shares of the company’s stock after selling 12,856 shares during the quarter. SkyView Investment Advisors LLC’s holdings in PHINIA were worth $247,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in PHINIA by 11.7% in the second quarter. Tidal Investments LLC now owns 8,699 shares of the company’s stock valued at $717,000 after buying an additional 914 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of PHINIA during the 2nd quarter worth about $39,000. Nykredit A S purchased a new stake in shares of PHINIA during the 2nd quarter worth about $38,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of PHINIA during the 2nd quarter valued at about $346,000. Finally, California State Teachers Retirement System grew its position in shares of PHINIA by 7,907.8% during the 2nd quarter. California State Teachers Retirement System now owns 3,750,388 shares of the company’s stock valued at $308,919,000 after acquiring an additional 3,703,554 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.
Insider Activity at PHINIA
In other news, CFO Chris P. Gropp sold 13,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $66.71, for a total value of $900,585.00. Following the transaction, the chief financial officer owned 43,823 shares in the company, valued at $2,923,432.33. This trade represents a 23.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Todd L. Anderson sold 3,056 shares of PHINIA stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $66.41, for a total value of $202,948.96. Following the completion of the sale, the vice president directly owned 26,736 shares in the company, valued at $1,775,537.76. This represents a 10.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 47,770 shares of company stock worth $3,232,692 in the last quarter. Corporate insiders own 2.20% of the company’s stock.
PHINIA Stock Down 5.1%
Shares of NYSE PHIN opened at $62.85 on Tuesday. The company’s 50-day simple moving average is $74.01 and its 200-day simple moving average is $74.13. PHINIA Inc. has a 52-week low of $50.79 and a 52-week high of $86.93. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 18.01 and a beta of 1.14. The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 0.63.
PHINIA (NYSE:PHIN – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). PHINIA had a return on equity of 13.86% and a net margin of 3.73%.The company had revenue of $940.00 million for the quarter, compared to analysts’ expectations of $918.83 million. Equities analysts predict that PHINIA Inc. will post 6.18 EPS for the current fiscal year.
PHINIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 4th. PHINIA’s payout ratio is 34.38%.
Analysts Set New Price Targets
A number of research firms recently weighed in on PHIN. UBS Group reduced their price target on PHINIA from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, July 31st. KeyCorp started coverage on PHINIA in a report on Friday, June 12th. They issued an “overweight” rating and a $105.00 price objective on the stock. Weiss Ratings raised PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 1st. Zacks Research cut PHINIA from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Finally, Northland Securities set a $98.00 target price on PHINIA in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.
Read Our Latest Stock Report on PHIN
About PHINIA
PHINIA Inc (NYSE: PHIN) is a global supplier of fuel systems, electrical systems and aftermarket products for commercial vehicles, passenger vehicles and industrial applications. The company’s products are designed to support internal-combustion, hybrid and other powertrain technologies.
Its product portfolio includes fuel injectors, fuel pumps, fuel modules, electronic control units, sensors, actuators, ignition components, starters and alternators. PHINIA also provides replacement parts, diagnostic equipment and related service solutions through its aftermarket business, which serves original-equipment and independent repair channels.
PHINIA was established as an independent public company in 2023 through the separation of BorgWarner’s fuel systems and aftermarket businesses.
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