Jacobs Levy Equity Management Inc. Decreases Holdings in PHINIA Inc. $PHIN

Key Points

• Jacobs Levy Equity Management Inc. reduced its holdings in PHINIA Inc. by 60.9%, selling 597,285 shares, which now leaves them with approximately 383,981 shares valued at $16.3 million.
• PHINIA recently announced a quarterly dividend of $0.27 per share, with a dividend yield of 1.8%, set to be paid on September 12th.
• The company posted an impressive quarterly earnings of $1.27 EPS, exceeding analysts' consensus estimates and reporting revenue of $890 million, which is up 2.5% year-over-year.

Jacobs Levy Equity Management Inc. lessened its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 60.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 383,981 shares of the company's stock after selling 597,285 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.96% of PHINIA worth $16,292,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. CX Institutional purchased a new position in PHINIA in the 1st quarter worth approximately $31,000. Brooklyn Investment Group increased its holdings in shares of PHINIA by 853.0% during the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company's stock valued at $67,000 after purchasing an additional 1,416 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHINIA during the fourth quarter valued at $144,000. One Wealth Advisors LLC bought a new position in shares of PHINIA during the 1st quarter valued at about $210,000. Finally, Advisors Asset Management Inc. purchased a new position in PHINIA in the 1st quarter worth about $220,000. Institutional investors and hedge funds own 90.94% of the company's stock.

Wall Street Analyst Weigh In

PHIN has been the subject of a number of research analyst reports. 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 report on Tuesday, August 12th. UBS Group reiterated a "neutral" rating and set a $55.00 price target (up from $52.00) on shares of PHINIA in a report on Friday, July 25th. Bank of America upped their price target on PHINIA from $60.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Wall Street Zen upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.67.

PHINIA Stock Performance

PHIN traded down $0.63 during trading hours on Friday, reaching $58.91. The company's stock had a trading volume of 65,314 shares, compared to its average volume of 499,496. 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 company's 50-day moving average is $53.28 and its 200-day moving average is $46.53. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $59.88. The firm has a market cap of $2.29 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 0.51 and a beta of 1.53.

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

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $0.27 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 1.8%. PHINIA's dividend payout ratio is presently 41.70%.

PHINIA Company 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.