Ancora Advisors LLC Increases Stake in PHINIA Inc. $PHIN

Key Points

• Ancora Advisors LLC increased its stake in PHINIA Inc. by 25.0% during the first quarter, owning 100,560 shares now valued at approximately $4.27 million.
• PHINIA reported earnings of $1.27 per share for the last quarter, surpassing analysts' expectations of $0.99, with revenue reaching $890 million.
• The company announced a quarterly dividend of $0.27 per share, yielding approximately 1.9%, with the payout scheduled for September 12th.

Ancora Advisors LLC grew its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 25.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,560 shares of the company's stock after purchasing an additional 20,110 shares during the period. Ancora Advisors LLC owned approximately 0.25% of PHINIA worth $4,267,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PHIN. CX Institutional bought a new stake in PHINIA during the first quarter worth about $31,000. Brooklyn Investment Group boosted its stake in PHINIA by 853.0% during the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company's stock worth $67,000 after acquiring an additional 1,416 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in PHINIA during the fourth quarter worth about $144,000. One Wealth Advisors LLC bought a new stake in PHINIA during the first quarter worth about $210,000. Finally, Eisler Capital Management Ltd. bought a new stake in PHINIA during the first quarter worth about $223,000. Institutional investors own 90.94% of the company's stock.

PHINIA Stock Performance

Shares of PHIN traded down $1.11 during mid-day trading on Tuesday, hitting $57.73. 111,544 shares of the company traded hands, compared to its average volume of 501,378. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86. The stock has a 50-day moving average price of $52.61 and a two-hundred day moving average price of $46.31. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $59.60. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 0.52 and a beta of 1.53.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data 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. 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 analysts' expectations of $836.51 million. During the same period in the previous year, the company earned $0.88 earnings per share. The firm's quarterly revenue was up 2.5% on a year-over-year basis. PHINIA has set its FY 2025 guidance at EPS. Equities analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group reissued a "neutral" rating and set a $55.00 price objective (up previously from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Bank of America boosted their price objective on shares of PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, Morgan Stanley upped their target price on shares of PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $53.17.

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.