Russell Investments Group Ltd. Sells 150,953 Shares of PHINIA Inc. $PHIN

Key Points

• Russell Investments Group Ltd. reduced its holdings in PHINIA Inc. by 53%, selling 150,953 shares and now owns 133,710 shares valued at approximately $5.67 million.
• Multiple hedge funds, including Janney Montgomery Scott LLC and Victory Capital Management Inc., have increased their stakes in PHINIA, indicating strong interest from institutional investors.
• PHINIA recently reported quarterly earnings of $1.27 per share, exceeding expectations, alongside a quarterly dividend of $0.27 scheduled for pay-out on September 12th.

Russell Investments Group Ltd. lowered its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 53.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,710 shares of the company's stock after selling 150,953 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.34% of PHINIA worth $5,673,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in shares of PHINIA by 8.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,196 shares of the company's stock worth $390,000 after purchasing an additional 698 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of PHINIA by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 229,854 shares of the company's stock worth $9,753,000 after purchasing an additional 1,270 shares in the last quarter. Barclays PLC increased its position in shares of PHINIA by 14.7% during the 4th quarter. Barclays PLC now owns 83,529 shares of the company's stock worth $4,023,000 after purchasing an additional 10,724 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of PHINIA by 1.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 17,080 shares of the company's stock worth $725,000 after purchasing an additional 274 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of PHINIA by 33.8% during the 1st quarter. Victory Capital Management Inc. now owns 236,760 shares of the company's stock worth $10,046,000 after purchasing an additional 59,808 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PHIN. UBS Group reiterated a "neutral" rating and set a $55.00 target price (up previously from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Bank of America increased their target price on shares of PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley increased their target price 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. Wall Street Zen upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, BNP Paribas cut shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective for the company. in a research report on Wednesday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.17.

PHINIA Trading Up 0.6%

PHIN opened at $55.93 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $2.18 billion, a PE ratio of 21.59, a PEG ratio of 0.49 and a beta of 1.51. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $57.23. The firm has a 50-day moving average price of $48.66 and a two-hundred day moving average price of $45.69.

PHINIA (NYSE:PHIN - Get Free Report) last posted 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 firm had revenue of $890.00 million during the quarter, compared to analysts' expectations of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. PHINIA has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm 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. This represents a $1.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 22nd. PHINIA's dividend payout ratio (DPR) is 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.

Want to see what other hedge funds are holding PHIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PHINIA Inc. (NYSE:PHIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.