PHINIA Inc. $PHIN Shares Sold by Engine Capital Management LP

Key Points

• Engine Capital Management LP has reduced its stake in PHINIA Inc. by 37%, selling 100,000 shares and leaving it with a total of 170,622 shares.
• PHINIA recently reported better-than-expected earnings for the quarter, with an EPS of $1.27, exceeding analysts' estimates of $0.99.
• The company is set to pay a quarterly dividend of $0.27 on September 12, representing an annual yield of 1.9% with a payout ratio of 41.70%.

Engine Capital Management LP decreased its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 37.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 170,622 shares of the company's stock after selling 100,000 shares during the period. PHINIA makes up about 1.4% of Engine Capital Management LP's holdings, making the stock its 18th biggest holding. Engine Capital Management LP owned approximately 0.43% of PHINIA worth $7,239,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CX Institutional purchased a new position in shares of PHINIA during the first quarter valued at 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 purchased a new position in PHINIA in the first quarter worth about $210,000. Finally, Advisors Asset Management Inc. purchased a new position in PHINIA in the first quarter worth about $220,000. Institutional investors own 90.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley lifted their target price 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. 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 set a $55.00 target price (up from $52.00) on shares of PHINIA in a report on Friday, July 25th. Finally, Bank of America increased 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. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, PHINIA has a consensus rating of "Moderate Buy" and an average target price of $53.17.

PHINIA Trading Down 1.2%

Shares of PHIN traded down $0.69 during midday trading on Tuesday, hitting $58.14. The stock had a trading volume of 188,717 shares, compared to its average volume of 501,934. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $59.60. The firm has a market cap of $2.26 billion, a PE ratio of 22.44, a price-to-earnings-growth 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 50 day moving average is $52.61 and its 200 day moving average is $46.31.

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

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 22nd. PHINIA's dividend payout ratio (DPR) is currently 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.