Public Sector Pension Investment Board Grows Holdings in PHINIA Inc. $PHIN

Key Points

• The Public Sector Pension Investment Board increased its stake in PHINIA Inc. by 47.0% in the first quarter of the year, bringing its total shareholding to 153,980 shares valued at approximately $6.53 million.
• PHINIA reported better-than-expected earnings, with $1.27 earnings per share, exceeding analysts' estimates of $0.99, and a revenue of $890 million for the quarter, up 2.5% year-over-year.
• The company recently announced a quarterly dividend of $0.27 per share, which represents a yield of 2.0% and will be paid to shareholders on September 12th, 2023.

Public Sector Pension Investment Board increased its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 47.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 153,980 shares of the company's stock after acquiring an additional 49,242 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.39% of PHINIA worth $6,533,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PHIN. Millennium Management LLC boosted its holdings in shares of PHINIA by 28.3% in the 4th quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after purchasing an additional 535,222 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of PHINIA by 32.6% in the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after purchasing an additional 458,650 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of PHINIA in the 1st quarter valued at $14,880,000. Voss Capital LP boosted its holdings in shares of PHINIA by 31.8% in the 4th quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after purchasing an additional 342,081 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of PHINIA in the 1st quarter valued at $10,939,000. Institutional investors and hedge funds own 90.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PHIN shares. BNP Paribas lowered shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target on the stock. in a report on Wednesday, April 23rd. Morgan Stanley lifted their price target on shares of PHINIA from $46.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. UBS Group reiterated a "neutral" rating and issued a $55.00 price target (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. Finally, Bank of America raised their target price on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. One research 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. Based on data from MarketBeat.com, PHINIA has an average rating of "Moderate Buy" and a consensus target price of $53.17.

PHINIA Trading Up 0.6%

Shares of PHIN stock traded up $0.3110 during mid-day trading on Thursday, reaching $56.3310. The company's stock had a trading volume of 382,540 shares, compared to its average volume of 455,364. The company's 50 day simple moving average is $48.91 and its 200-day simple moving average is $45.74. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $57.23. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $2.19 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 0.50 and a beta of 1.51.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $1.27 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $836.51 million. During the same quarter last year, the firm posted $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, research analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.08 annualized dividend and a yield of 1.9%. 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.