LSV Asset Management Increases Position in PHINIA Inc. (NYSE:PHIN)

Key Points

• LSV Asset Management has increased its holdings in PHINIA Inc. by 20.7%, owning over 1 million shares valued at approximately $42.6 million.
• A quarterly dividend of $0.27 per share has been announced, with the ex-dividend date set for August 22nd, providing shareholders with a dividend yield of 2.2%.
• Analysts have mixed ratings on PHINIA, with three holding a 'buy' rating and the average price target set at $52.83.

LSV Asset Management lifted its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 20.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,004,591 shares of the company's stock after buying an additional 172,355 shares during the period. LSV Asset Management owned approximately 2.52% of PHINIA worth $42,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PHIN. JPMorgan Chase & Co. increased its holdings in PHINIA by 0.3% in the 4th quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company's stock valued at $27,054,000 after purchasing an additional 1,603 shares during the last quarter. Alliancebernstein L.P. increased its holdings in PHINIA by 4.2% in the 4th quarter. Alliancebernstein L.P. now owns 60,963 shares of the company's stock valued at $2,937,000 after purchasing an additional 2,445 shares during the last quarter. Trexquant Investment LP acquired a new stake in PHINIA in the 4th quarter valued at approximately $2,502,000. Wells Fargo & Company MN increased its holdings in PHINIA by 6.8% in the 4th quarter. Wells Fargo & Company MN now owns 47,583 shares of the company's stock valued at $2,292,000 after purchasing an additional 3,024 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in PHINIA by 5.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 6,870 shares of the company's stock valued at $331,000 after purchasing an additional 373 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

Insiders Place Their Bets

In related news, Director Meggan M. Walsh purchased 1,400 shares of PHINIA stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $42.71 per share, with a total value of $59,794.00. Following the completion of the transaction, the director directly owned 7,492 shares in the company, valued at approximately $319,983.32. The trade was a 22.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by company insiders.

PHINIA Stock Performance

PHIN traded up $0.97 on Friday, reaching $52.12. The company had a trading volume of 226,963 shares, compared to its average volume of 517,247. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $57.23. The stock has a market capitalization of $2.03 billion, a PE ratio of 20.15, a P/E/G ratio of 0.47 and a beta of 1.51. 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 50-day moving average price of $46.55 and a 200-day moving average price of $45.43.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $836.51 million. During the same period in the previous year, the company earned $0.88 earnings per share. PHINIA's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $0.27 dividend. 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 payout ratio is 41.70%.

Analyst Ratings Changes

Several research firms have commented on PHIN. 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 note on Thursday, May 15th. Wall Street Zen upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Morgan Stanley dropped their price target on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. BNP Paribas downgraded shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a research note on Wednesday, April 23rd. Finally, 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 note on Friday, July 25th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $52.83.

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.