Kestrel Investment Management Corp Has $7.62 Million Position in PHINIA Inc. $PHIN

Key Points

• Kestrel Investment Management Corp has reduced its stake in PHINIA Inc. by 4.4%, owning 171,300 shares valued at approximately $7.62 million, making it the firm's largest holding.
• PHINIA recently reported earnings of $1.27 per share for the last quarter, exceeding analysts' expectations, and showed a revenue increase of 2.5% year-over-year.
• The company announced a quarterly dividend of $0.27 per share, resulting in an annualized dividend of $1.08 and a yield of 2.0% on its stock.

Kestrel Investment Management Corp lowered its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,300 shares of the company's stock after selling 7,900 shares during the period. PHINIA accounts for approximately 4.6% of Kestrel Investment Management Corp's portfolio, making the stock its largest holding. Kestrel Investment Management Corp owned 0.44% of PHINIA worth $7,621,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Voss Capital LP raised its position in shares of PHINIA by 45.9% in the first quarter. Voss Capital LP now owns 2,067,342 shares of the company's stock worth $87,717,000 after buying an additional 650,261 shares in the last quarter. American Century Companies Inc. raised its position in shares of PHINIA by 7.5% in the first quarter. American Century Companies Inc. now owns 1,520,567 shares of the company's stock worth $64,518,000 after buying an additional 106,412 shares in the last quarter. LSV Asset Management raised its position in shares of PHINIA by 20.7% in the first quarter. LSV Asset Management now owns 1,004,591 shares of the company's stock worth $42,625,000 after buying an additional 172,355 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of PHINIA by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company's stock worth $41,462,000 after buying an additional 58,875 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in PHINIA by 1.1% during the first quarter. Bridgeway Capital Management LLC now owns 456,832 shares of the company's stock valued at $19,383,000 after purchasing an additional 4,911 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

PHINIA Stock Up 1.2%

Shares of NYSE:PHIN opened at $55.15 on Friday. 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 company has a market capitalization of $2.15 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 0.53 and a beta of 1.48. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $59.88. The business has a fifty day moving average price of $56.58 and a two-hundred day moving average price of $48.95.

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, topping analysts' consensus estimates of $0.99 by $0.28. The business had revenue of $890.00 million for the quarter, compared to analysts' expectations of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%.The firm's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. Analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America raised their price target on PHINIA from $60.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Weiss Ratings restated a "hold (c+)" rating on shares of PHINIA in a research report on Wednesday, October 8th. Wall Street Zen upgraded PHINIA from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Morgan Stanley raised their price objective on PHINIA from $46.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Finally, UBS Group raised their price objective on PHINIA from $55.00 to $62.00 and gave the company a "neutral" rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.83.

About PHINIA

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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