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. bought a new position in PHINIA Inc. (NYSE:PHIN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,394 shares of the company's stock, valued at approximately $356,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC boosted its holdings in shares of PHINIA by 28.3% during the 4th quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after acquiring an additional 535,222 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock worth $98,653,000 after acquiring an additional 253,345 shares during the period. First Trust Advisors LP raised its position in shares of PHINIA by 32.6% during the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after buying an additional 458,650 shares during the last quarter. Voss Capital LP raised its position in shares of PHINIA by 31.8% during the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after buying an additional 342,081 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of PHINIA by 6.0% during the fourth quarter. LSV Asset Management now owns 832,236 shares of the company's stock valued at $40,089,000 after buying an additional 46,919 shares during the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Up 1.7%

Shares of PHIN stock traded up $0.87 during mid-day trading on Friday, hitting $52.02. 376,821 shares of the stock traded hands, compared to its average volume of 479,011. The stock has a market cap of $2.02 billion, a P/E ratio of 20.09, a P/E/G ratio of 0.48 and a beta of 1.51. 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 fifty day moving average is $46.72 and its two-hundred day moving average is $45.40. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.27 EPS 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 firm had revenue of $890.00 million during the quarter, compared to analyst estimates of $836.51 million. During the same period last year, the firm posted $0.88 EPS. PHINIA's revenue was up 2.5% on a year-over-year basis. Equities analysts predict that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Dividend Announcement

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 given 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 2.1%. PHINIA's dividend payout ratio (DPR) is currently 41.70%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America boosted their price target 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. UBS Group reiterated a "neutral" rating and set a $55.00 price objective (up previously from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Morgan Stanley cut their price target on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, BNP Paribas lowered shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective for the company. in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.83.

Insider Transactions at PHINIA

In other news, Director Meggan M. Walsh bought 1,400 shares of the stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average cost of $42.71 per share, with a total value of $59,794.00. Following the purchase, the director directly owned 7,492 shares in the company, valued at $319,983.32. The trade was a 22.98% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company's stock.

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.