PHINIA Inc. $PHIN is ABS Direct Equity Fund LLC's 5th Largest Position

Key Points

• ABS Direct Equity Fund LLC increased its stake in PHINIA Inc. by 16.7%, now holding 70,000 shares, making it the fund's 5th largest position.
• PHINIA reported a strong quarterly earnings performance with an EPS of $1.27, surpassing analysts' expectations, alongside a revenue of $890 million for the quarter.
• The company also declared a quarterly dividend of $0.27, representing a 1.9% yield, with a payout ratio of 41.70% marking its commitment to returning value to shareholders.

ABS Direct Equity Fund LLC boosted its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 16.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,000 shares of the company's stock after buying an additional 10,000 shares during the quarter. PHINIA makes up about 5.0% of ABS Direct Equity Fund LLC's holdings, making the stock its 5th biggest position. ABS Direct Equity Fund LLC owned approximately 0.18% of PHINIA worth $3,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its stake in shares of PHINIA by 8.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,196 shares of the company's stock worth $390,000 after purchasing an additional 698 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of PHINIA by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 229,854 shares of the company's stock worth $9,753,000 after purchasing an additional 1,270 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of PHINIA by 1.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company's stock worth $725,000 after purchasing an additional 274 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of PHINIA by 33.8% during the 1st quarter. Victory Capital Management Inc. now owns 236,760 shares of the company's stock worth $10,046,000 after purchasing an additional 59,808 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of PHINIA during the 1st quarter worth $357,000. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Stock Performance

NYSE:PHIN opened at $58.16 on Friday. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $59.88. The firm's fifty day simple moving average is $55.51 and its 200 day simple moving average is $47.44. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $2.26 billion, a PE ratio of 22.45, a PEG ratio of 0.51 and a beta of 1.53.

PHINIA (NYSE:PHIN - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (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 business had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. During the same period last year, the business posted $0.88 EPS. PHINIA's revenue was up 2.5% compared to the same quarter last year. PHINIA has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, August 22nd. PHINIA's dividend payout ratio (DPR) is currently 41.70%.

Analyst Ratings Changes

Several research analysts have recently commented on PHIN shares. 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 increased their price target on shares of PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. 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. Finally, Bank of America raised their target price on shares of PHINIA from $60.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.67.

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.

Want to see what other hedge funds are holding PHIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PHINIA Inc. (NYSE:PHIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.