Pacer Advisors Inc. Purchases New Position in PHINIA Inc. (NYSE:PHIN)

Key Points

• Pacer Advisors Inc. acquired approximately 350,685 shares of PHINIA Inc. during the 1st quarter, valued at about $14.88 million, holding 0.88% of the company as of the latest SEC filing.
• Analysts have mixed ratings on PHINIA, with a consensus target price of $52.83, while Bank of America and UBS both increased their price objectives to $55.00.
• PHINIA recently reported better-than-expected quarterly earnings, with an EPS of $1.27, exceeding estimates by $0.28, and a revenue of $890 million.

Pacer Advisors Inc. acquired a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 350,685 shares of the company's stock, valued at approximately $14,880,000. Pacer Advisors Inc. owned about 0.88% of PHINIA at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of PHINIA in the fourth quarter valued at approximately $771,000. JPMorgan Chase & Co. lifted its position in shares of 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 acquiring an additional 1,603 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in PHINIA in the 4th quarter worth approximately $6,874,000. O Shaughnessy Asset Management LLC lifted its position in PHINIA by 35.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 97,852 shares of the company's stock worth $4,714,000 after buying an additional 25,532 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in PHINIA by 4.2% in the 4th quarter. Alliancebernstein L.P. now owns 60,963 shares of the company's stock worth $2,937,000 after buying an additional 2,445 shares in the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group restated a "neutral" rating and set a $55.00 price target (up previously from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Wall Street Zen upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday. Morgan Stanley dropped their price target on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Bank of America increased 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. Finally, BNP Paribas lowered shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target on the stock. in a research note on Wednesday, April 23rd. Three investment 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.83.

Insider Activity at PHINIA

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

PHINIA Stock Performance

NYSE:PHIN traded down $1.30 during midday trading on Wednesday, reaching $52.42. The stock had a trading volume of 66,282 shares, compared to its average volume of 520,287. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $57.23. The firm's fifty day simple moving average is $45.35 and its 200-day simple moving average is $45.35. 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 has a market capitalization of $2.04 billion, a P/E ratio of 20.24, a PEG ratio of 0.51 and a beta of 1.49.

PHINIA (NYSE:PHIN - Get Free Report) last posted 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 company had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. On average, equities research analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 annualized dividend and a yield of 2.06%. 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.