Cubist Systematic Strategies LLC Acquires New Shares in PHINIA Inc. $PHIN

Key Points

• Cubist Systematic Strategies LLC acquired 38,283 shares of PHINIA Inc. valued at approximately $1,624,000, increasing its stake to 0.10% of the company by the end of the last quarter.
• PHINIA reported a quarterly EPS of $1.27, exceeding estimates, with revenues of $890 million, which represented a 2.5% year-over-year increase.
• The company declared a quarterly dividend of $0.27, indicating a dividend yield of 1.8% and a payout ratio of 41.70%.

Cubist Systematic Strategies LLC bought a new stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 38,283 shares of the company's stock, valued at approximately $1,624,000. Cubist Systematic Strategies LLC owned 0.10% of PHINIA as of its most recent SEC filing.

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

Analysts Set New Price Targets

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

PHINIA Price Performance

Shares of PHINIA stock traded down $1.30 on Friday, hitting $58.24. 291,773 shares of the company were exchanged, compared to its average volume of 377,706. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 0.53 and a beta of 1.53. The company has a 50-day moving average price of $53.49 and a 200 day moving average price of $46.59. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $59.88. 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 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 business had revenue of $890.00 million for the quarter, compared to analysts' expectations of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%.The business's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. PHINIA has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently announced 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 is Friday, August 22nd. PHINIA's payout ratio is currently 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.