Advisors Asset Management Inc. Acquires New Position in PHINIA Inc. $PHIN

Advisors Asset Management Inc. acquired a new position in PHINIA Inc. (NYSE:PHIN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,190 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in PHINIA by 1.6% in 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 period. OneDigital Investment Advisors LLC grew its position in PHINIA by 3.1% in the first quarter. OneDigital Investment Advisors LLC now owns 9,253 shares of the company’s stock worth $393,000 after acquiring an additional 279 shares during the period. SummerHaven Investment Management LLC grew its position in PHINIA by 1.5% in the first quarter. SummerHaven Investment Management LLC now owns 18,935 shares of the company’s stock worth $803,000 after acquiring an additional 282 shares during the period. Illinois Municipal Retirement Fund grew its position in PHINIA by 1.6% in the first quarter. Illinois Municipal Retirement Fund now owns 24,643 shares of the company’s stock worth $1,046,000 after acquiring an additional 396 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in PHINIA by 3.0% during the fourth quarter. Quantinno Capital Management LP now owns 15,081 shares of the company’s stock worth $726,000 after buying an additional 444 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PHIN. Wall Street Zen raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Morgan Stanley increased their target price on shares of PHINIA from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 12th. UBS Group reaffirmed a “neutral” rating and set a $55.00 target price (up previously from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Finally, Bank of America increased their target price on shares of PHINIA from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, PHINIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.67.

PHINIA Stock Up 2.7%

Shares of NYSE PHIN opened at $59.53 on Friday. The stock has a market cap of $2.32 billion, a P/E ratio of 22.98, a PEG ratio of 0.51 and a beta of 1.53. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $59.60. The business’s fifty day simple moving average is $53.28 and its 200-day simple moving average is $46.53.

PHINIA (NYSE:PHIN) last issued 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. The firm had revenue of $890.00 million for the quarter, compared to analysts’ expectations of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. PHINIA has set its FY 2025 guidance at EPS. As a group, equities analysts predict 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. Investors of record on Friday, August 22nd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.08 annualized dividend and a yield of 1.8%. PHINIA’s dividend payout ratio (DPR) is 41.70%.

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.