Rhumbline Advisers Has $5.27 Million Stock Holdings in PHINIA Inc. $PHIN

Key Points

• Rhumbline Advisers reduced its stake in PHINIA Inc. by 6.5%, owning 124,083 shares valued at $5.27 million after selling 8,610 shares in the first quarter.
• PHINIA reported $1.27 earnings per share (EPS) for the last quarter, beating analysts' expectations of $0.99, with revenue of $890 million, exceeding estimates of $836.51 million.
• The company announced a quarterly dividend of $0.27, representing a 1.9% yield based on an annualized dividend of $1.08.

Rhumbline Advisers trimmed its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,083 shares of the company's stock after selling 8,610 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of PHINIA worth $5,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of PHINIA by 8.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,196 shares of the company's stock valued at $390,000 after acquiring an additional 698 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of PHINIA by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 229,854 shares of the company's stock valued at $9,753,000 after acquiring an additional 1,270 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in PHINIA by 1.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company's stock valued at $725,000 after purchasing an additional 274 shares during the period. Victory Capital Management Inc. boosted its position in PHINIA by 33.8% during the 1st quarter. Victory Capital Management Inc. now owns 236,760 shares of the company's stock valued at $10,046,000 after purchasing an additional 59,808 shares during the period. Finally, SG Americas Securities LLC acquired a new position in PHINIA during the 1st quarter valued at approximately $357,000. 90.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PHIN has been the subject of a number of analyst reports. Bank of America boosted their price objective on PHINIA from $60.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Morgan Stanley boosted their price objective on PHINIA from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. UBS Group restated a "neutral" rating and set a $55.00 price objective (up previously from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded PHINIA from a "hold" rating to a "strong-buy" rating in a research report 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.67.

PHINIA Price Performance

Shares of PHINIA stock traded up $0.92 during trading on Thursday, hitting $59.42. The stock had a trading volume of 472,045 shares, compared to its average volume of 393,541. 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 has a market cap of $2.31 billion, a P/E ratio of 22.94, a PEG ratio of 0.52 and a beta of 1.53. The business has a fifty day moving average of $54.35 and a two-hundred day moving average of $46.84. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $59.88.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.28. The business had revenue of $890.00 million during the quarter, compared to analyst estimates of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%.The company's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.8%. PHINIA's payout ratio is 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.