Teacher Retirement System of Texas Boosts Holdings in PHINIA Inc. $PHIN

Teacher Retirement System of Texas boosted its stake in PHINIA Inc. (NYSE:PHIN) by 92.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 416,328 shares of the company’s stock after acquiring an additional 199,756 shares during the period. Teacher Retirement System of Texas’ holdings in PHINIA were worth $23,931,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of PHINIA by 76.5% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 122,151 shares of the company’s stock worth $7,021,000 after purchasing an additional 52,957 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of PHINIA in the 3rd quarter valued at about $177,000. Citizens Financial Group Inc. RI purchased a new position in PHINIA during the 3rd quarter worth approximately $220,000. SG Americas Securities LLC increased its position in PHINIA by 45.5% during the third quarter. SG Americas Securities LLC now owns 13,968 shares of the company’s stock worth $803,000 after buying an additional 4,370 shares during the period. Finally, CWA Asset Management Group LLC lifted its stake in PHINIA by 6.6% in the third quarter. CWA Asset Management Group LLC now owns 39,031 shares of the company’s stock valued at $2,244,000 after buying an additional 2,412 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Performance

Shares of PHIN opened at $68.82 on Friday. The stock has a market capitalization of $2.65 billion, a P/E ratio of 31.00 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.72. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $70.97. The company’s fifty day moving average is $60.73 and its two-hundred day moving average is $56.48.

PHINIA (NYSE:PHIN) last released its earnings results on Tuesday, October 28th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.17 by $0.42. PHINIA had a net margin of 2.63% and a return on equity of 11.64%. The company had revenue of $908.00 million during the quarter, compared to analysts’ expectations of $861.57 million. During the same quarter last year, the business earned $1.17 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, November 24th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, November 24th. PHINIA’s payout ratio is currently 48.65%.

Insider Activity at PHINIA

In other PHINIA news, VP Hongyong Yang sold 893 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $52.43, for a total transaction of $46,819.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Samantha Pombier sold 1,940 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $54.14, for a total value of $105,031.60. Following the completion of the sale, the vice president directly owned 8,869 shares of the company’s stock, valued at $480,167.66. This represents a 17.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PHIN. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 10th. Northland Securities increased their price target on shares of PHINIA from $65.00 to $79.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 30th. BNP Paribas Exane upgraded shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price objective on the stock in a research note on Monday, November 3rd. Citigroup reaffirmed a “neutral” rating on shares of PHINIA in a report on Tuesday, October 14th. Finally, Zacks Research raised PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.17.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.