112,864 Shares in PHINIA Inc. $PHIN Purchased by Woodline Partners LP

Key Points

• Woodline Partners LP acquired 112,864 shares of PHINIA Inc. for approximately $4.79 million, holding 0.28% of the company at the end of the recent reporting period.
• PHINIA's stock has received positive modifications from several analysts, with Bank of America raising its price target from $60.00 to $64.00 and Morgan Stanley adjusting its target from $46.00 to $48.00.
• The company declared a quarterly dividend of $0.27 per share, equating to an annual yield of 1.9%, while institutional investors own approximately 90.94% of PHINIA's shares.

Woodline Partners LP purchased a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 112,864 shares of the company's stock, valued at approximately $4,789,000. Woodline Partners LP owned 0.28% of PHINIA at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in PHINIA by 8.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,196 shares of the company's stock worth $390,000 after purchasing an additional 698 shares during the period. Principal Financial Group Inc. boosted its position in PHINIA by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 229,854 shares of the company's stock valued at $9,753,000 after buying an additional 1,270 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in PHINIA by 1.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company's stock valued at $725,000 after buying an additional 274 shares during the last quarter. Victory Capital Management Inc. boosted its position in PHINIA by 33.8% in the 1st quarter. Victory Capital Management Inc. now owns 236,760 shares of the company's stock valued at $10,046,000 after buying an additional 59,808 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in PHINIA in the 1st quarter valued at about $357,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PHIN. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Morgan Stanley upped their price objective on shares of PHINIA from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. UBS Group reissued a "neutral" rating and issued a $55.00 price objective (up from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Finally, Bank of America upped their price objective on shares of PHINIA from $60.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.67.

PHINIA Stock Up 0.2%

Shares of PHINIA stock traded up $0.12 during trading on Tuesday, reaching $57.61. The company had a trading volume of 542,716 shares, compared to its average volume of 501,168. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 0.52 and a beta of 1.53. The firm's fifty day moving average is $53.70 and its 200-day moving average is $46.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $59.88.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.28. The business had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS. PHINIA has set its FY 2025 guidance at EPS. On average, analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.08 annualized dividend and a yield of 1.9%. PHINIA's dividend payout ratio is 41.70%.

PHINIA 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.