PHINIA Inc. $PHIN Shares Purchased by Jane Street Group LLC

Key Points

• Jane Street Group LLC significantly increased its stake in PHINIA Inc. by 94.1% in Q1, owning 250,278 shares valued at approximately $10.6 million.
• PHINIA received a series of positive analyst ratings, with Wall Street Zen upgrading it to a "strong-buy" and price targets from various firms ranging from $48.00 to $55.00.
• The company announced a quarterly dividend of $0.27 per share, equating to an annualized dividend of $1.08 and a yield of 1.8%, with the payout ratio currently at 41.70%.

Jane Street Group LLC raised its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 94.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 250,278 shares of the company's stock after acquiring an additional 121,312 shares during the quarter. Jane Street Group LLC owned approximately 0.63% of PHINIA worth $10,619,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CX Institutional purchased a new position in PHINIA in the first quarter worth approximately $31,000. Brooklyn Investment Group raised its holdings 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PHINIA during the fourth quarter worth approximately $144,000. One Wealth Advisors LLC acquired a new stake in PHINIA during the first quarter worth approximately $210,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in PHINIA by 11.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,498 shares of the company's stock worth $233,000 after purchasing an additional 560 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

PHINIA Price Performance

Shares of NYSE PHIN traded down $0.29 during trading on Wednesday, hitting $57.69. 445,995 shares of the company were exchanged, compared to its average volume of 506,570. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 0.52 and a beta of 1.53. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $59.60. The firm's fifty day moving average price is $51.49 and its 200 day moving average price is $46.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.86 and a quick ratio of 1.36.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.27 EPS for the quarter, topping the consensus estimate 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 in the previous year, the firm earned $0.88 EPS. The business's revenue for the quarter 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 expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm 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 $0.27 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 1.9%. PHINIA's payout ratio is currently 41.70%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PHIN. UBS Group reissued a "neutral" rating and set a $55.00 price objective (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. Morgan Stanley raised 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. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, Bank of America lifted their price objective on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.17.

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.