16,342 Shares in PHINIA Inc. (NYSE:PHIN) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,342 shares of the company's stock, valued at approximately $693,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PHIN. CX Institutional acquired a new stake in PHINIA in the 1st quarter valued at $31,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PHINIA in the fourth quarter valued at $144,000. Optimize Financial Inc acquired a new position in shares of PHINIA during the fourth quarter valued at about $206,000. One Wealth Advisors LLC acquired a new position in shares of PHINIA during the first quarter valued at about $210,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of PHINIA by 11.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,498 shares of the company's stock worth $233,000 after acquiring an additional 560 shares in the last quarter. Institutional investors own 90.94% of the company's stock.

Insider Activity

In other news, Director Meggan M. Walsh acquired 1,400 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the purchase, the director owned 7,492 shares in the company, valued at approximately $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

PHINIA Stock Down 2.4%

Shares of NYSE:PHIN opened at $49.47 on Friday. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $57.23. The company has a market capitalization of $1.92 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 0.46 and a beta of 1.51. The business has a fifty day moving average price of $46.00 and a two-hundred day moving average price of $45.42. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.86 and a quick ratio of 1.36.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.28. The company had revenue of $890.00 million during 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 firm'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 earned $0.88 earnings per share. Analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 2.2%. PHINIA's dividend payout ratio (DPR) is presently 41.70%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Wall Street Zen upgraded PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. UBS Group reiterated a "neutral" rating and set a $55.00 price target (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a research note on Wednesday, April 23rd. Finally, Bank of America lifted their price objective on shares of PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $52.83.

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.

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