Trexquant Investment LP Purchases 70,265 Shares of PHINIA Inc. $PHIN

Key Points

• Trexquant Investment LP significantly increased its position in PHINIA Inc. by 135.3%, acquiring an additional 70,265 shares, bringing its total ownership to approximately 0.31% of the company.
• PHINIA Inc. reported an earnings per share of $1.27 for the last quarter, exceeding estimates and showing a year-over-year revenue increase of 2.5% to $890 million.
• The company announced a quarterly dividend of $0.27, representing an annualized yield of 1.8%, to be distributed on September 12th to shareholders of record as of August 22nd.

Trexquant Investment LP boosted its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 135.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 122,202 shares of the company's stock after purchasing an additional 70,265 shares during the period. Trexquant Investment LP owned about 0.31% of PHINIA worth $5,185,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PHIN. Voss Capital LP lifted its stake in PHINIA by 45.9% in the 1st quarter. Voss Capital LP now owns 2,067,342 shares of the company's stock valued at $87,717,000 after purchasing an additional 650,261 shares during the last quarter. Millennium Management LLC lifted its stake in PHINIA by 28.3% in the 4th quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after purchasing an additional 535,222 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in PHINIA in the 1st quarter valued at about $14,880,000. Nuveen LLC acquired a new stake in PHINIA in the 1st quarter valued at about $10,939,000. Finally, HITE Hedge Asset Management LLC lifted its stake in PHINIA by 257.0% in the 1st quarter. HITE Hedge Asset Management LLC now owns 325,853 shares of the company's stock valued at $13,826,000 after purchasing an additional 234,574 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America raised 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. Wall Street Zen upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. UBS Group restated a "neutral" rating and set a $55.00 price objective (up from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Finally, Morgan Stanley raised their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.17.

PHINIA Price Performance

Shares of NYSE PHIN traded up $0.01 during midday trading on Friday, reaching $58.54. The company's stock had a trading volume of 284,278 shares, compared to its average volume of 379,150. 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 fifty-two week low of $36.25 and a fifty-two week high of $59.60. The business's 50 day moving average price is $52.33 and its two-hundred day moving average price is $46.30. The company has a market cap of $2.28 billion, a P/E ratio of 22.60, a P/E/G ratio of 0.52 and a beta of 1.53.

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

PHINIA Dividend Announcement

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

PHINIA 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.