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Teacher Retirement System of Texas Increases Stock Holdings in PHINIA Inc. (NYSE:PHIN)

PHINIA logo with Auto/Tires/Trucks background

Teacher Retirement System of Texas raised its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 15.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,665 shares of the company's stock after acquiring an additional 10,455 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.20% of PHINIA worth $3,338,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PHIN. Millennium Management LLC lifted its holdings in PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after acquiring an additional 535,222 shares during the period. First Trust Advisors LP lifted its holdings in PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after acquiring an additional 458,650 shares during the period. Voss Capital LP lifted its holdings in PHINIA by 31.8% in the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after acquiring an additional 342,081 shares during the period. Dimensional Fund Advisors LP lifted its holdings in PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after acquiring an additional 253,345 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new position in PHINIA in the fourth quarter valued at approximately $6,874,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PHIN has been the subject of a number of analyst reports. BNP Paribas downgraded PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a report on Wednesday, April 23rd. CL King initiated coverage on PHINIA in a research report on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective for the company. Bank of America boosted their price objective on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. UBS Group restated a "neutral" rating and issued a $45.00 price objective (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Finally, Morgan Stanley cut their price objective on PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.17.

View Our Latest Analysis on PHINIA

Insider Activity at PHINIA

In other news, Director Meggan M. Walsh purchased 1,400 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $42.71 per share, with a total value of $59,794.00. Following the completion of the transaction, the director directly owned 7,492 shares in the company, valued at approximately $319,983.32. This represents a 22.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brady D. Ericson purchased 10,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were purchased at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the transaction, the chief executive officer owned 436,486 shares of the company's stock, valued at $17,341,588.78. This trade represents a 2.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 11,423 shares of company stock worth $458,069. 2.00% of the stock is currently owned by corporate insiders.

PHINIA Stock Down 0.3%

NYSE PHIN traded down $0.15 during trading hours on Friday, hitting $48.27. 284,264 shares of the company were exchanged, compared to its average volume of 543,384. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $57.23. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 0.52 and a beta of 1.49. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $43.95 and a two-hundred day moving average of $45.26.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The business had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. During the same period last year, the business posted $1.08 EPS. PHINIA's revenue was down 7.8% on a year-over-year basis. Equities research analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Monday, June 2nd. PHINIA's dividend payout ratio (DPR) is 61.36%.

PHINIA Company Profile

(Free Report)

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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Institutional Ownership by Quarter for PHINIA (NYSE:PHIN)

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