Jefferies Financial Group Inc. Invests $356,000 in PHINIA Inc. (NYSE:PHIN)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in PHINIA Inc., purchasing 8,394 shares valued at approximately $356,000.
• PHINIA recently reported a quarterly earnings of $1.27 per share, exceeding analyst expectations and indicating a year-over-year revenue increase of 2.5%.
• The company declared a quarterly dividend of $0.27, representing a yield of 2.1%, with the payout ratio currently at 41.70%.

Jefferies Financial Group Inc. acquired a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,394 shares of the company's stock, valued at approximately $356,000.

A number of other hedge funds also recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new position in shares of PHINIA in the 1st quarter valued at $693,000. Knights of Columbus Asset Advisors LLC raised its stake in shares of PHINIA by 2.8% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 49,097 shares of the company's stock valued at $2,083,000 after buying an additional 1,315 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of PHINIA in the 1st quarter valued at $14,880,000. Royce & Associates LP increased its position in shares of PHINIA by 52.7% during the 1st quarter. Royce & Associates LP now owns 38,401 shares of the company's stock worth $1,629,000 after purchasing an additional 13,261 shares in the last quarter. Finally, One Wealth Advisors LLC acquired a new stake in shares of PHINIA during the 1st quarter worth about $210,000. Institutional investors and hedge funds own 90.94% of the company's stock.

Insider Buying and Selling

In related news, Director Meggan M. Walsh acquired 1,400 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $42.71 per share, with a total value of $59,794.00. Following the acquisition, the director directly owned 7,492 shares in the company, valued at $319,983.32. The trade was a 22.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

PHINIA Price Performance

NYSE:PHIN traded up $1.33 during mid-day trading on Tuesday, reaching $54.05. 77,229 shares of the company were exchanged, compared to its average volume of 514,239. PHINIA Inc. has a 12 month low of $36.25 and a 12 month high of $57.23. The company has a fifty day moving average of $46.92 and a 200 day moving average of $45.38. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.10 billion, a PE ratio of 20.85, a PEG ratio of 0.48 and a beta of 1.51.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.28. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The firm had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The company's revenue was up 2.5% on a year-over-year basis. On average, research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. PHINIA's dividend payout ratio is currently 41.70%.

Analysts Set New Price Targets

PHIN has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. UBS Group reiterated a "neutral" rating and set a $55.00 target price (up previously from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Morgan Stanley increased their target price on shares of PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, BNP Paribas cut shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price for the company. in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, PHINIA has a consensus rating of "Moderate Buy" and a consensus price target of $53.17.

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.