Envestnet Portfolio Solutions Inc. Makes New $581,000 Investment in PHINIA Inc. $PHIN

Envestnet Portfolio Solutions Inc. bought a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,049 shares of the company's stock, valued at approximately $581,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nisa Investment Advisors LLC raised its holdings in shares of PHINIA by 1.6% during the first quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company's stock worth $725,000 after purchasing an additional 274 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of 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 acquiring an additional 279 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of PHINIA by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 19,275 shares of the company's stock worth $858,000 after acquiring an additional 340 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of 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 acquiring an additional 396 shares during the period. Finally, Hancock Whitney Corp increased its holdings in shares of PHINIA by 0.9% in the 1st quarter. Hancock Whitney Corp now owns 60,096 shares of the company's stock worth $2,550,000 after acquiring an additional 549 shares during the period. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Stock Performance

NYSE:PHIN opened at $54.17 on Wednesday. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $59.88. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $56.64 and a 200-day moving average of $48.80. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 0.51 and a beta of 1.48.

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

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. PHINIA's dividend payout ratio (DPR) is 41.70%.

Wall Street Analyst Weigh In

PHIN has been the topic of a number of analyst reports. UBS Group increased their price objective on shares of PHINIA from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PHINIA in a report on Wednesday, October 8th. Zacks Research cut shares of PHINIA from a "strong-buy" rating to a "hold" rating in a report on Friday, October 10th. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, Citigroup reaffirmed a "neutral" rating on shares of PHINIA in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $55.83.

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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