Advisors Asset Management Inc. Takes $220,000 Position in PHINIA Inc. $PHIN

Key Points

• Advisors Asset Management Inc. has purchased a new stake in PHINIA Inc., acquiring 5,190 shares valued at approximately $220,000.
• PHINIA reported earnings of $1.27 per share for the last quarter, surpassing analysts' expectations, with revenues of $890 million, reflecting a year-over-year increase.
• The company will distribute a quarterly dividend of $0.27 on September 12th, translating to an annualized dividend yield of 1.8%.

Advisors Asset Management Inc. acquired a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,190 shares of the company's stock, valued at approximately $220,000.

A number of other hedge funds also recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its position in shares of PHINIA by 1.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company's stock worth $725,000 after purchasing an additional 274 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in PHINIA by 3.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 9,253 shares of the company's stock valued at $393,000 after purchasing an additional 279 shares during the period. SummerHaven Investment Management LLC boosted its stake in PHINIA by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 18,935 shares of the company's stock valued at $803,000 after purchasing an additional 282 shares during the period. Illinois Municipal Retirement Fund boosted its stake in PHINIA by 1.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 24,643 shares of the company's stock valued at $1,046,000 after purchasing an additional 396 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in PHINIA by 3.0% during the 4th quarter. Quantinno Capital Management LP now owns 15,081 shares of the company's stock valued at $726,000 after purchasing an additional 444 shares during the period. Institutional investors and hedge funds own 90.94% of the company's stock.

Analyst Ratings Changes

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

PHINIA Stock Down 0.1%

Shares of PHIN traded down $0.07 during mid-day trading on Tuesday, hitting $57.43. 240,691 shares of the company's stock were exchanged, compared to its average volume of 499,418. The firm has a fifty day moving average of $53.70 and a two-hundred day moving average of $46.60. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $59.88. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 0.52 and a beta of 1.53. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.59.

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

PHINIA Dividend Announcement

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

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.