Fox Run Management L.L.C. Takes Position in PHINIA Inc. $PHIN

Key Points

• Fox Run Management L.L.C. has acquired 16,130 shares of PHINIA Inc., valued at approximately $684,000, as part of their investment strategy in the first quarter.
• A significant majority, about 90.94%, of PHINIA's stock is currently held by institutional investors, indicating strong institutional confidence in the company.
• PHINIA announced a quarterly dividend of $0.27 per share, reflecting a 2.0% dividend yield, with payment scheduled for September 12th to shareholders of record on August 22nd.

Fox Run Management L.L.C. bought a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,130 shares of the company's stock, valued at approximately $684,000.

Several other hedge funds have also added to or reduced their stakes in the company. CX Institutional acquired a new stake in shares of PHINIA during the first quarter worth $31,000. Point72 Asia Singapore Pte. Ltd. bought a new position in PHINIA during the fourth quarter worth about $144,000. One Wealth Advisors LLC acquired a new stake in PHINIA in the 1st quarter worth about $210,000. Oppenheimer Asset Management Inc. boosted its holdings in PHINIA by 11.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,498 shares of the company's stock valued at $233,000 after purchasing an additional 560 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of PHINIA during the 1st quarter worth approximately $243,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PHIN has been the subject of several recent research reports. Morgan Stanley boosted their price target on PHINIA from $46.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Bank of America upped their target price on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. UBS Group restated a "neutral" rating and issued a $55.00 price target (up previously from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Finally, Wall Street Zen raised PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, PHINIA has a consensus rating of "Moderate Buy" and an average price target of $53.17.

PHINIA Price Performance

NYSE:PHIN traded up $2.03 on Friday, hitting $58.09. The company had a trading volume of 120,646 shares, compared to its average volume of 507,961. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $58.33. 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 stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 0.50 and a beta of 1.51. The firm has a 50 day moving average of $48.91 and a two-hundred day moving average of $45.74.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.28. The business had revenue of $890.00 million during 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 firm's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. PHINIA has set its FY 2025 guidance at EPS. On average, research analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current 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 paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.08 annualized dividend and a yield of 1.9%. PHINIA's payout ratio is 41.70%.

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.