Voya Investment Management LLC Buys 13,061 Shares of PHINIA Inc. $PHIN

Key Points

• Voya Investment Management LLC significantly increased its stake in PHINIA Inc., acquiring an additional 13,061 shares, bringing its total ownership to 39,232 shares worth approximately $1.67 million.
• Several analysts have upgraded their price targets for PHINIA, with UBS raising its target from $52 to $55 and Bank of America increasing it from $60 to $64, indicating growing confidence in the stock.
• PHINIA announced a quarterly dividend of $0.27 per share, translating to an annualized yield of 1.9%, with a current dividend payout ratio of 41.70%.

Voya Investment Management LLC grew its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 49.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,232 shares of the company's stock after purchasing an additional 13,061 shares during the quarter. Voya Investment Management LLC owned approximately 0.10% of PHINIA worth $1,665,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PHIN. CX Institutional bought a new position in shares of PHINIA in the first quarter valued at about $31,000. Brooklyn Investment Group raised its position in shares of PHINIA by 853.0% in the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company's stock valued at $67,000 after purchasing an additional 1,416 shares during the period. One Wealth Advisors LLC bought a new position in shares of PHINIA in the first quarter valued at about $210,000. Advisors Asset Management Inc. bought a new position in shares of PHINIA in the first quarter valued at about $220,000. Finally, Eisler Capital Management Ltd. bought a new position in shares of PHINIA in the first quarter valued at about $223,000. 90.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group reissued a "neutral" rating and issued a $55.00 price objective (up from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Morgan Stanley raised their price target 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. Finally, Bank of America raised their price target on shares of PHINIA from $60.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.67.

PHINIA Price Performance

NYSE:PHIN opened at $58.28 on Tuesday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 0.52 and a beta of 1.53. 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 52 week low of $36.25 and a 52 week high of $59.88. The firm's 50-day simple moving average is $54.74 and its 200 day simple moving average is $47.06.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.28. The firm had revenue of $890.00 million for 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 business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. PHINIA has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, August 22nd. PHINIA's dividend payout ratio is presently 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.

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