Bridgeway Capital Management LLC Purchases 4,911 Shares of PHINIA Inc. $PHIN

Key Points

• Bridgeway Capital Management LLC increased its holdings in PHINIA Inc. by 1.1% in Q1, owning 456,832 shares valued at approximately $19.4 million, making it the 24th biggest holding for the firm.
• A range of institutional investors have also significantly increased their stakes in PHINIA, with Voss Capital LP upping its holdings by 45.9%, owning over 2 million shares valued at about $87.7 million.
• PHINIA's quarterly earnings beat analyst estimates with an EPS of $1.27, and the company announced a quarterly dividend of $0.27 per share, reflecting a yield of 1.9%.

Bridgeway Capital Management LLC boosted its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 1.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 456,832 shares of the company's stock after purchasing an additional 4,911 shares during the period. PHINIA comprises approximately 0.5% of Bridgeway Capital Management LLC's portfolio, making the stock its 24th largest position. Bridgeway Capital Management LLC owned 1.15% of PHINIA worth $19,383,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PHIN. Voss Capital LP increased its stake in PHINIA by 45.9% in the first 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 period. Millennium Management LLC lifted its stake in shares of PHINIA by 28.3% during the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after buying an additional 535,222 shares during the period. Pacer Advisors Inc. purchased a new position in PHINIA during the first quarter worth approximately $14,880,000. Nuveen LLC acquired a new stake in shares of PHINIA in the first quarter worth $10,939,000. Finally, HITE Hedge Asset Management LLC increased its position in shares of PHINIA by 257.0% in the first quarter. HITE Hedge Asset Management LLC now owns 325,853 shares of the company's stock worth $13,826,000 after acquiring an additional 234,574 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

Wall Street Analysts Forecast Growth

PHIN has been the subject of several recent analyst reports. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. UBS Group reaffirmed a "neutral" rating and issued 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 lifted their target price on shares of PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley raised their price target on shares of PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $53.17.

PHINIA Stock Performance

PHIN stock traded up $0.01 on Friday, reaching $58.54. 284,278 shares of the company were exchanged, compared to its average volume of 379,150. The firm has a market capitalization of $2.28 billion, a PE ratio of 22.60, a PEG ratio of 0.52 and a beta of 1.53. 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's fifty day moving average price is $52.33 and its 200 day moving average price is $46.30. PHINIA Inc. has a 12 month low of $36.25 and a 12 month high of $59.60.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.28. The firm had revenue of $890.00 million for 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 business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. PHINIA has set its FY 2025 guidance at EPS. On average, research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 22nd. PHINIA's payout ratio is 41.70%.

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.