PHINIA Inc. (NYSE:PHIN) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 15.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 78,665 shares of the company's stock after purchasing an additional 10,455 shares during the period. Teacher Retirement System of Texas owned approximately 0.20% of PHINIA worth $3,338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after buying an additional 418 shares in the last quarter. AlphaQuest LLC purchased a new position in PHINIA in the 4th quarter valued at about $173,000. Royce & Associates LP lifted its stake in PHINIA by 66.4% in the 4th quarter. Royce & Associates LP now owns 25,140 shares of the company's stock valued at $1,211,000 after buying an additional 10,031 shares in the last quarter. Magnetar Financial LLC purchased a new position in PHINIA in the 4th quarter valued at about $264,000. Finally, American Century Companies Inc. lifted its stake in PHINIA by 8.5% in the 4th quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock valued at $68,120,000 after buying an additional 110,931 shares in the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PHIN has been the topic of several recent research reports. Bank of America boosted their target price on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. CL King initiated coverage on PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 target price on the stock. BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price on the stock. in a report on Wednesday, April 23rd. Morgan Stanley reduced their price target on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Finally, UBS Group reaffirmed a "neutral" rating and set a $45.00 price target (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $51.17.

Insider Transactions at PHINIA

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

PHINIA Stock Down 0.3%

Shares of PHIN stock traded down $0.15 on Friday, reaching $48.27. 284,264 shares of the stock were exchanged, compared to its average volume of 544,194. The company has a current ratio of 1.85, a quick ratio of 1.36 and a debt-to-equity ratio of 0.63. The business's 50 day moving average price is $43.82 and its 200 day moving average price is $45.28. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 0.51 and a beta of 1.49. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a net margin of 2.28% and a return on equity of 9.88%. The company had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. During the same quarter in the prior year, the company earned $1.08 EPS. The business's revenue was down 7.8% on a year-over-year basis. As a group, sell-side analysts expect 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 was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.27 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.24%. PHINIA's payout ratio is 61.36%.

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.