Wellington Management Group LLP Buys 36,400 Shares of PHINIA Inc. $PHIN

Key Points

• Wellington Management Group LLP increased its stake in PHINIA Inc. by 10.9% in Q1, holding approximately 0.93% of the company valued at $15.65 million.
• Several hedge funds significantly boosted their holdings in PHINIA during the same quarter, with Brooklyn Investment Group exhibiting the largest increase at 853%.
• PHINIA recently announced a quarterly dividend of $0.27, representing an annual yield of 1.8%, set to be paid on September 12th to record investors.

Wellington Management Group LLP increased its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 10.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 368,844 shares of the company's stock after purchasing an additional 36,400 shares during the period. Wellington Management Group LLP owned approximately 0.93% of PHINIA worth $15,650,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PHIN. Millennium Management LLC increased its position in shares of PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock worth $116,810,000 after purchasing an additional 535,222 shares during the period. Pacer Advisors Inc. bought a new position in shares of PHINIA in the first quarter worth $14,880,000. Nuveen LLC bought a new position in shares of PHINIA in the first quarter worth $10,939,000. LSV Asset Management increased its position in shares of PHINIA by 20.7% in the first quarter. LSV Asset Management now owns 1,004,591 shares of the company's stock worth $42,625,000 after purchasing an additional 172,355 shares during the period. Finally, American Century Companies Inc. increased its position in shares of PHINIA by 7.5% in the first quarter. American Century Companies Inc. now owns 1,520,567 shares of the company's stock worth $64,518,000 after purchasing an additional 106,412 shares during the period. Institutional investors own 90.94% of the company's stock.

Wall Street Analysts Forecast Growth

PHIN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded 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. Bank of America upped their price objective on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley upped their price objective on PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $53.17.

PHINIA Price Performance

PHIN stock traded down $0.47 during midday trading on Monday, reaching $58.38. 356,661 shares of the stock were exchanged, compared to its average volume of 392,023. The stock has a market capitalization of $2.27 billion, a PE ratio of 22.54, a P/E/G ratio of 0.52 and a beta of 1.53. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $59.60. 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 company has a fifty day moving average price of $51.19 and a 200 day moving average price of $46.10.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.28. The business had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%.PHINIA's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. PHINIA has set its FY 2025 guidance at EPS. As a group, analysts expect 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 given a dividend of $0.27 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.08 dividend on an annualized basis and a yield of 1.8%. PHINIA's 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.