PHINIA Inc. $PHIN Stock Position Lowered by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas trimmed its PHINIA stake by 5.0%, selling 20,983 shares and leaving a 395,345-share holding (about 1.03% of the company) valued at roughly $24.78 million.
• Other institutions increased exposure—most notably Goldman Sachs (977,177 shares, ~$41.46M)—and institutional investors now own about 90.94% of PHINIA.
• PHINIA reported quarterly EPS of $1.18 (missing the $1.35 estimate) while revenue beat at $889M, the company raised its quarterly dividend to $0.30 (annual $1.20, yield ~1.6%), and analysts' consensus is a Hold with an average price target of $68.80.

Teacher Retirement System of Texas lessened its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 5.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 395,345 shares of the company's stock after selling 20,983 shares during the period. Teacher Retirement System of Texas owned approximately 1.03% of PHINIA worth $24,784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of PHINIA by 464.8% in the 1st quarter. Royal Bank of Canada now owns 75,745 shares of the company's stock worth $3,214,000 after acquiring an additional 62,333 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of PHINIA by 62.3% in the 1st quarter. AQR Capital Management LLC now owns 22,343 shares of the company's stock worth $938,000 after acquiring an additional 8,576 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PHINIA by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company's stock worth $1,056,000 after acquiring an additional 1,093 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of PHINIA by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company's stock worth $41,462,000 after acquiring an additional 58,875 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of PHINIA by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company's stock valued at $4,000,000 after buying an additional 6,478 shares in the last quarter. Institutional investors own 90.94% of the company's stock.

PHINIA Trading Up 0.6%

Shares of PHIN opened at $72.76 on Friday. PHINIA Inc. has a 12-month low of $38.44 and a 12-month high of $81.11. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 22.39 and a beta of 1.36. The stock's 50-day moving average price is $70.29 and its 200 day moving average price is $63.62.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.17). The company had revenue of $889.00 million during the quarter, compared to the consensus estimate of $843.59 million. PHINIA had a net margin of 3.73% and a return on equity of 12.56%. The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 earnings per share. As a group, research analysts predict that PHINIA Inc. will post 5.94 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were paid a $0.30 dividend. This is an increase from PHINIA's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. PHINIA's dividend payout ratio (DPR) is currently 36.92%.

Insiders Place Their Bets

In other news, VP Christopher Gustanski sold 3,812 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $72.73, for a total value of $277,246.76. Following the completion of the transaction, the vice president owned 14,871 shares in the company, valued at $1,081,567.83. This trade represents a 20.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Neil Fryer sold 624 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total transaction of $45,396.00. Following the completion of the sale, the vice president owned 18,180 shares of the company's stock, valued at $1,322,595. This trade represents a 3.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Freedom Capital downgraded PHINIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Zacks Research downgraded PHINIA from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 14th. UBS Group reiterated a "neutral" rating and set a $76.00 price target on shares of PHINIA in a report on Friday, February 13th. Wall Street Zen downgraded PHINIA from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of PHINIA in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $68.80.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.

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