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. trimmed its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 53.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 133,710 shares of the company's stock after selling 150,953 shares during the quarter. Russell Investments Group Ltd. owned 0.34% of PHINIA worth $5,673,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. CX Institutional acquired a new position in PHINIA in the first quarter worth about $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in PHINIA in the fourth quarter valued at approximately $144,000. One Wealth Advisors LLC acquired a new position in shares of PHINIA during the first quarter worth approximately $210,000. Oppenheimer Asset Management Inc. boosted its position in shares of PHINIA by 11.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,498 shares of the company's stock worth $233,000 after buying an additional 560 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of PHINIA during the first quarter worth approximately $243,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Performance

Shares of PHIN traded up $0.03 during trading hours on Tuesday, reaching $59.07. 481,166 shares of the company traded hands, compared to its average volume of 420,117. The stock's fifty day moving average is $49.90 and its 200 day moving average is $45.88. The stock has a market cap of $2.30 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $59.59.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.28. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The firm had revenue of $890.00 million during the quarter, compared to analyst estimates of $836.51 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. The company's quarterly revenue was up 2.5% compared to the same quarter last year. PHINIA has set its FY 2025 guidance at EPS. Equities research analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 22nd. PHINIA's dividend payout ratio is 41.70%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley boosted their target price on PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Wall Street Zen raised PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Bank of America lifted their price objective 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. Finally, UBS Group restated a "neutral" rating and set a $55.00 price target (up from $52.00) on shares of PHINIA in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.17.

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.