Y Intercept Hong Kong Ltd Takes $243,000 Position in PHINIA Inc. (NYSE:PHIN)

Key Points

• Y Intercept Hong Kong Ltd has acquired a new stake in PHINIA Inc., purchasing 5,732 shares valued at approximately $243,000 during the first quarter.
• PHINIA reported strong quarterly results, with an EPS of $1.27 exceeding analysts' expectations of $0.99 and revenue of $890 million, reflecting a 2.5% increase year-over-year.
• The firm announced a quarterly dividend of $0.27, representing an annualized yield of 2.11%, with an expected payout ratio of 41.70%.

Y Intercept Hong Kong Ltd bought a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,732 shares of the company's stock, valued at approximately $243,000.

Several other large investors also recently modified their holdings of PHIN. JPMorgan Chase & Co. lifted its holdings in shares of PHINIA by 0.3% in the fourth quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company's stock worth $27,054,000 after acquiring an additional 1,603 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of PHINIA by 35.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 97,852 shares of the company's stock worth $4,714,000 after acquiring an additional 25,532 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of PHINIA by 4.2% in the fourth quarter. Alliancebernstein L.P. now owns 60,963 shares of the company's stock worth $2,937,000 after acquiring an additional 2,445 shares during the last quarter. Trexquant Investment LP bought a new position in shares of PHINIA in the fourth quarter worth about $2,502,000. Finally, Bryce Point Capital LLC bought a new position in shares of PHINIA in the fourth quarter worth about $271,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley cut their price target on PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Wall Street Zen raised PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target on the stock. in a research note on Wednesday, April 23rd. Bank of America lifted their price target on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, UBS Group reissued a "neutral" rating and set a $55.00 price target (up from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, PHINIA currently has an average rating of "Moderate Buy" and an average price target of $52.83.

PHINIA Trading Down 2.4%

Shares of PHIN traded down $1.23 during mid-day trading on Friday, reaching $49.47. 483,443 shares of the company were exchanged, compared to its average volume of 450,040. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $57.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86. The stock has a market capitalization of $1.92 billion, a PE ratio of 12.11, a PEG ratio of 0.46 and a beta of 1.51. The business has a 50 day simple moving average of $46.00 and a two-hundred day simple moving average of $45.46.

PHINIA (NYSE:PHIN - Get Free Report) last issued 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. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. The company had revenue of $890.00 million during the quarter, compared to the consensus estimate of $836.51 million. During the same period last year, the company earned $0.88 earnings per share. The firm's revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, August 22nd. PHINIA's payout ratio is presently 41.70%.

Insiders Place Their Bets

In other PHINIA news, Director Meggan M. Walsh bought 1,400 shares of the stock in a transaction on Thursday, May 22nd. The stock was acquired at an average cost of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the acquisition, the director owned 7,492 shares in the company, valued at $319,983.32. This trade represents a 22.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.00% of the company's stock.

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.