PHINIA Inc. (NYSE:PHIN) Shares Bought by LSV Asset Management

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in shares of PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock worth $116,810,000 after buying an additional 535,222 shares during the period. First Trust Advisors LP grew its stake in PHINIA by 32.6% during the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after purchasing an additional 458,650 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in PHINIA during the 1st quarter valued at approximately $14,880,000. Voss Capital LP grew its stake in PHINIA by 31.8% during the 4th quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after purchasing an additional 342,081 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew 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 valued at $98,653,000 after purchasing an additional 253,345 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PHIN. BNP Paribas lowered 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. Wall Street Zen upgraded PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. UBS Group restated a "neutral" rating and set a $55.00 price objective (up previously from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Morgan Stanley lowered their price objective on PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, Bank of America increased their target price on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.83.

Insider Activity

In related news, Director Meggan M. Walsh purchased 1,400 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $42.71 per share, with a total value of $59,794.00. Following the acquisition, the director owned 7,492 shares in the company, valued at approximately $319,983.32. This trade represents a 22.98% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company's stock.

PHINIA Stock Performance

NYSE:PHIN traded up $0.42 during trading hours on Thursday, reaching $51.01. 409,927 shares of the stock were exchanged, compared to its average volume of 519,369. 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 firm has a 50 day simple moving average of $46.40 and a 200-day simple moving average of $45.43. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $57.23. The stock has a market capitalization of $1.98 billion, a P/E ratio of 19.69, a P/E/G ratio of 0.47 and a beta of 1.51.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.28. The business had revenue of $890.00 million for the quarter, compared to the consensus estimate of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. The business's revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. As a group, sell-side analysts forecast that PHINIA Inc. will post 4.21 earnings per share 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 issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. PHINIA's dividend payout ratio (DPR) is 41.70%.

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.