Empowered Funds LLC Buys 4,911 Shares of PHINIA Inc. $PHIN

Key Points

• Empowered Funds LLC has increased its stake in PHINIA Inc. by 2.0%, owning approximately 0.61% of the company valued at $10.38 million.
• Several institutional investors have also increased their holdings in PHINIA, with a total of 90.94% of the stock currently held by hedge funds and other institutional investors.
• PHINIA recently delivered strong quarterly earnings, reporting an EPS of $1.27, exceeding expectations, alongside a declared quarterly dividend of $0.27 to be paid in September.

Empowered Funds LLC boosted its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 244,732 shares of the company's stock after buying an additional 4,911 shares during the quarter. Empowered Funds LLC owned approximately 0.61% of PHINIA worth $10,384,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CX Institutional bought a new position in PHINIA during the first quarter valued at about $31,000. Brooklyn Investment Group boosted its position in PHINIA by 853.0% during the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company's stock worth $67,000 after purchasing an additional 1,416 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in PHINIA during the fourth quarter worth about $144,000. One Wealth Advisors LLC bought a new position in PHINIA during the first quarter worth about $210,000. Finally, Advisors Asset Management Inc. bought a new position in PHINIA during the first quarter worth about $220,000. Institutional investors own 90.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PHIN. UBS Group reissued a "neutral" rating and issued a $55.00 price target (up from $52.00) on shares of PHINIA in a report on Friday, July 25th. Bank of America increased their price target on shares of PHINIA from $60.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, 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 report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $54.67.

PHINIA Trading Down 0.4%

PHINIA stock traded down $0.23 during mid-day trading on Monday, reaching $57.97. 141,769 shares of the company traded hands, compared to its average volume of 498,733. 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 firm's 50 day moving average price is $53.49 and its 200 day moving average price is $46.55. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 0.52 and a beta of 1.53. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $59.88.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $890.00 million for the quarter, compared to the consensus estimate of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 EPS. PHINIA has set its FY 2025 guidance at EPS. On average, analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, August 22nd. PHINIA's 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.