Intech Investment Management LLC Grows Stock Position in PHINIA Inc. $PHIN

Key Points

• Intech Investment Management boosted its PHINIA stake by 634.1% in the fourth quarter, adding 103,162 shares to hold 119,432 shares worth about $7.49 million.
• PHINIA reported strong quarterly results, with EPS of $1.29 beating estimates and revenue of $878 million topping forecasts; revenue also rose 10.3% from a year earlier.
• The company announced a quarterly dividend of $0.30 per share, implying a 1.5% annual yield, while analysts currently rate the stock a Moderate Buy with an average target price of $68.80.

Intech Investment Management LLC increased its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 634.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 119,432 shares of the company's stock after buying an additional 103,162 shares during the quarter. Intech Investment Management LLC owned about 0.31% of PHINIA worth $7,487,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of PHINIA by 1.9% during the 4th quarter. ProShare Advisors LLC now owns 7,409 shares of the company's stock valued at $464,000 after buying an additional 141 shares during the period. Acorn Financial Advisory Services Inc. ADV raised its position in shares of PHINIA by 2.7% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 5,816 shares of the company's stock valued at $365,000 after buying an additional 155 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of PHINIA by 34.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company's stock valued at $50,000 after buying an additional 222 shares during the period. Old North State Wealth Management LLC raised its position in shares of PHINIA by 2.5% during the 4th quarter. Old North State Wealth Management LLC now owns 10,253 shares of the company's stock valued at $643,000 after buying an additional 250 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of PHINIA by 151.5% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $27,000 after buying an additional 256 shares during the period. Hedge funds and other institutional investors own 90.94% of the company's stock.

PHINIA Stock Performance

NYSE:PHIN opened at $77.45 on Friday. The company has a fifty day simple moving average of $72.64 and a two-hundred day simple moving average of $67.50. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 21.63 and a beta of 1.16. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62. PHINIA Inc. has a 52 week low of $41.28 and a 52 week high of $81.11.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.13 by $0.16. The business had revenue of $878.00 million during the quarter, compared to the consensus estimate of $838.67 million. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. As a group, equities analysts anticipate that PHINIA Inc. will post 6.36 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. PHINIA's payout ratio is presently 33.52%.

Analysts Set New Price Targets

Several analysts have recently commented on PHIN shares. Wall Street Zen raised shares of PHINIA from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. Northland Securities set a $93.00 price target on shares of PHINIA in a research report on Friday, February 13th. Weiss Ratings lowered shares of PHINIA from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 20th. Zacks Research raised PHINIA from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Finally, Freedom Capital lowered PHINIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $68.80.

Insiders Place Their Bets

In related news, VP Christopher Gustanski sold 3,812 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total transaction of $277,246.76. Following the completion of the transaction, the vice president owned 14,871 shares in the company, valued at approximately $1,081,567.83. The trade was a 20.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Neil Fryer sold 624 shares of the business's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $72.75, for a total transaction of $45,396.00. Following the transaction, the vice president owned 18,180 shares of the company's stock, valued at approximately $1,322,595. The trade was a 3.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.20% of the company's stock.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.

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