Ritholtz Wealth Management Increases Holdings in PHINIA Inc. $PHIN

Key Points

• Ritholtz Wealth Management increased its stake in PHINIA Inc. by 24.6% during the second quarter, now holding 29,975 shares worth approximately $1.33 million.
• PHINIA recently reported an earnings beat, with $1.27 earnings per share for the quarter, surpassing estimates of $0.99, along with a revenue of $890 million.
• The company announced a quarterly dividend of $0.27 per share, representing a 2% yield based on the annualized payout.

Ritholtz Wealth Management increased its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 24.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,975 shares of the company's stock after purchasing an additional 5,927 shares during the quarter. Ritholtz Wealth Management owned about 0.08% of PHINIA worth $1,334,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Voss Capital LP grew its position in PHINIA by 45.9% during the first quarter. Voss Capital LP now owns 2,067,342 shares of the company's stock worth $87,717,000 after buying an additional 650,261 shares in the last quarter. American Century Companies Inc. grew its position in PHINIA by 7.5% during the first quarter. American Century Companies Inc. now owns 1,520,567 shares of the company's stock worth $64,518,000 after buying an additional 106,412 shares in the last quarter. LSV Asset Management grew its position in PHINIA by 20.7% during the first quarter. LSV Asset Management now owns 1,004,591 shares of the company's stock worth $42,625,000 after buying an additional 172,355 shares in the last quarter. Goldman Sachs Group Inc. grew its position in PHINIA by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company's stock worth $41,462,000 after buying an additional 58,875 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its position in PHINIA by 1.1% during the first quarter. Bridgeway Capital Management LLC now owns 456,832 shares of the company's stock worth $19,383,000 after buying an additional 4,911 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PHIN. Weiss Ratings restated a "hold (c+)" rating on shares of PHINIA in a research report on Wednesday, October 8th. Zacks Research cut PHINIA from a "strong-buy" rating to a "hold" rating in a report on Friday, October 10th. Morgan Stanley upped their price objective on PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Bank of America upped their price objective on PHINIA from $60.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Finally, Citigroup reiterated a "neutral" rating on shares of PHINIA in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.83.

PHINIA Trading Down 0.7%

Shares of PHIN stock opened at $53.01 on Friday. The stock has a market capitalization of $2.06 billion, a PE ratio of 20.47, a P/E/G ratio of 0.51 and a beta of 1.48. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $59.88. The business has a 50-day moving average of $56.64 and a 200 day moving average of $48.56. 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 issued its earnings results 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 company had revenue of $890.00 million during the quarter, compared to analysts' expectations of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%.PHINIA's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 EPS. PHINIA has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a dividend of $0.27 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.08 annualized dividend and a yield of 2.0%. PHINIA's dividend payout ratio is currently 41.70%.

About PHINIA

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.

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