Nuveen LLC Acquires New Holdings in PHINIA Inc. $PHIN

Key Points

• Nuveen LLC has acquired 257,820 shares of PHINIA Inc., valued at approximately $10.94 million, representing 0.65% of the company's shares.
• PHINIA recently reported earnings of $1.27 per share, exceeding estimates of $0.99, with quarterly revenue reaching $890 million.
• The company announced a quarterly dividend of $0.27 per share, which equates to an annual yield of 1.9%, with payment scheduled for September 12th.

Nuveen LLC purchased a new stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 257,820 shares of the company's stock, valued at approximately $10,939,000. Nuveen LLC owned 0.65% of PHINIA at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Millennium Management LLC increased its position in shares of PHINIA by 28.3% during the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after buying an additional 535,222 shares during the period. Dimensional Fund Advisors LP increased its position in shares of PHINIA by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after buying an additional 253,345 shares during the period. LSV Asset Management increased its position in shares of PHINIA by 20.7% during the first quarter. LSV Asset Management now owns 1,004,591 shares of the company's stock valued at $42,625,000 after buying an additional 172,355 shares during the period. Ion Asset Management Ltd. increased its position in shares of PHINIA by 7.8% during the fourth quarter. Ion Asset Management Ltd. now owns 639,000 shares of the company's stock valued at $30,781,000 after buying an additional 46,316 shares during the period. Finally, Northern Trust Corp increased its position in shares of PHINIA by 10.9% during the fourth quarter. Northern Trust Corp now owns 496,063 shares of the company's stock valued at $23,895,000 after buying an additional 48,571 shares during the period. Hedge funds and other institutional investors own 90.94% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America upped their price objective on shares of PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. UBS Group restated a "neutral" rating and issued a $55.00 price objective (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. Wall Street Zen upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, Morgan Stanley upped their price objective on shares of PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, PHINIA has a consensus rating of "Moderate Buy" and an average target price of $53.17.

PHINIA Stock Down 0.4%

Shares of NYSE:PHIN traded down $0.22 during trading on Thursday, reaching $58.76. 334,502 shares of the stock traded hands, compared to its average volume of 408,653. The stock has a 50-day moving average of $50.56 and a two-hundred day moving average of $46.04. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $59.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86. The stock has a market cap of $2.29 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.27 EPS 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 for the quarter, compared to analysts' expectations of $836.51 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The business's revenue for the quarter was up 2.5% on a year-over-year basis. PHINIA has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.27 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.08 dividend on an annualized basis and a yield of 1.8%. PHINIA's dividend payout ratio is 41.70%.

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.