Banyan Capital Management Inc. Boosts Position in PHINIA Inc. $PHIN

Key Points

• Banyan Capital Management Inc. increased its stake in PHINIA Inc. by 4.3% during the 2nd quarter, now holding 252,856 shares worth approximately $11.25 million.
• PHINIA Inc. reported a quarterly earnings per share of $1.27, exceeding analyst expectations of $0.99, along with a revenue of $890 million, up 2.5% year-over-year.
• The company declared a quarterly dividend of $0.27 per share, representing an annualized dividend yield of 1.9% and a payout ratio of 41.7%.

Banyan Capital Management Inc. grew its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,856 shares of the company's stock after acquiring an additional 10,382 shares during the quarter. PHINIA comprises about 5.8% of Banyan Capital Management Inc.'s portfolio, making the stock its 8th largest position. Banyan Capital Management Inc. owned 0.64% of PHINIA worth $11,250,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Voss Capital LP grew its holdings in PHINIA by 45.9% during the 1st quarter. Voss Capital LP now owns 2,067,342 shares of the company's stock valued at $87,717,000 after purchasing an additional 650,261 shares during the last quarter. American Century Companies Inc. grew its stake in shares of PHINIA by 7.5% during the first quarter. American Century Companies Inc. now owns 1,520,567 shares of the company's stock valued at $64,518,000 after buying an additional 106,412 shares during the last quarter. LSV Asset Management raised its holdings in shares of PHINIA by 20.7% in the first quarter. LSV Asset Management now owns 1,004,591 shares of the company's stock worth $42,625,000 after buying an additional 172,355 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of PHINIA by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company's stock worth $41,462,000 after acquiring an additional 58,875 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in PHINIA by 1.1% during the 1st quarter. Bridgeway Capital Management LLC now owns 456,832 shares of the company's stock valued at $19,383,000 after acquiring an additional 4,911 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Down 0.4%

Shares of PHINIA stock opened at $57.99 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.86 and a quick ratio of 1.36. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 0.52 and a beta of 1.53. The firm's 50-day moving average is $54.94 and its two-hundred day moving average is $47.14. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $59.88.

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

PHINIA Announces Dividend

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

Wall Street Analyst Weigh In

PHIN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. UBS Group reiterated a "neutral" rating and set a $55.00 price objective (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. Bank of America boosted 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. Finally, Morgan Stanley raised their target price on shares of PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $54.67.

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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