Vanguard Group Inc. Sells 174,510 Shares of PHINIA Inc. $PHIN

Key Points

• Vanguard Group Inc. has reduced its stake in PHINIA Inc. by 3.5%, selling 174,510 shares, resulting in ownership of 4,806,511 shares valued at approximately $203.9 million.
• Several institutional investors have adjusted their positions in PHINIA, with Victory Capital Management Inc. increasing its holdings by 33.8% during the first quarter.
• PHINIA recently declared a quarterly dividend of $0.27 per share, with an annual yield of 1.9%, reflecting a payout ratio of 41.70%.

Vanguard Group Inc. decreased its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,806,511 shares of the company's stock after selling 174,510 shares during the quarter. Vanguard Group Inc. owned about 12.08% of PHINIA worth $203,940,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on PHIN. Morgan Stanley increased their price objective on shares of PHINIA from $46.00 to $48.00 and gave the company 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. Bank of America increased their price objective on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, UBS Group reiterated a "neutral" rating and set a $55.00 price objective (up previously from $52.00) on shares of PHINIA in a research report on Friday, July 25th. One 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.17.

PHINIA Trading Up 3.6%

Shares of PHIN traded up $2.0060 during midday trading on Friday, hitting $58.3360. The stock had a trading volume of 548,309 shares, compared to its average volume of 432,628. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $58.41. The firm has a market cap of $2.27 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 0.50 and a beta of 1.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.86 and a quick ratio of 1.36. The stock's 50 day moving average is $49.24 and its 200 day moving average is $45.79.

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

PHINIA Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 1.9%. PHINIA's dividend payout ratio is currently 41.70%.

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.