Atom Investors LP Grows Stake in PHINIA Inc. $PHIN

Key Points

• Atom Investors LP increased its PHINIA stake by 53.4% in the fourth quarter, buying 51,937 additional shares and bringing its holdings to 149,138 shares worth about $9.35 million.
• PHINIA posted better-than-expected quarterly results, with EPS of $1.29 versus $1.13 expected and revenue of $878 million, up 10.3% year over year. The company also said analysts expect full-year EPS of 6.24.
• The company declared a quarterly dividend of $0.30 per share, payable June 23, and analysts currently have a consensus rating of Moderate Buy with an average price target of $74.83.

Atom Investors LP lifted its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 53.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,138 shares of the company's stock after buying an additional 51,937 shares during the period. PHINIA makes up about 0.7% of Atom Investors LP's investment portfolio, making the stock its 18th biggest position. Atom Investors LP owned approximately 0.39% of PHINIA worth $9,349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of PHINIA by 151.5% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company's stock worth $27,000 after buying an additional 256 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of PHINIA by 2,500.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company's stock worth $49,000 after buying an additional 750 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of PHINIA by 34.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company's stock worth $50,000 after buying an additional 222 shares during the last quarter. MAI Capital Management boosted its stake in shares of PHINIA by 845.4% in the 3rd quarter. MAI Capital Management now owns 917 shares of the company's stock worth $53,000 after buying an additional 820 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of PHINIA in the 2nd quarter worth $60,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

PHINIA Price Performance

Shares of PHINIA stock opened at $81.76 on Wednesday. PHINIA Inc. has a one year low of $41.59 and a one year high of $86.93. The stock's fifty day moving average is $75.95 and its 200 day moving average is $69.91. The stock has a market cap of $3.03 billion, a P/E ratio of 22.84 and a beta of 1.16. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.16. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The company had revenue of $878.00 million for the quarter, compared to analysts' expectations of $838.67 million. During the same period last year, the firm earned $0.94 EPS. PHINIA's revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts anticipate that PHINIA Inc. will post 6.24 earnings per share for the current year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 9th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. PHINIA's dividend payout ratio (DPR) is currently 33.52%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded PHINIA from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, June 4th. KeyCorp assumed coverage on PHINIA in a report on Friday, June 12th. They issued an "overweight" rating and a $105.00 target price on the stock. Wall Street Zen raised PHINIA from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. Zacks Research raised PHINIA from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Finally, Freedom Capital cut PHINIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.83.

Insider Transactions at PHINIA

In other PHINIA news, VP Michael Coetzee sold 1,250 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $80.61, for a total transaction of $100,762.50. Following the sale, the vice president directly owned 27,009 shares of the company's stock, valued at $2,177,195.49. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Samantha Pombier sold 2,227 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total value of $183,415.72. Following the sale, the vice president directly owned 6,637 shares in the company, valued at approximately $546,623.32. This represents a 25.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is owned by company insiders.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.

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