Public Sector Pension Investment Board Purchases 11,718 Shares of PHINIA Inc. $PHIN

Public Sector Pension Investment Board boosted its position in shares of PHINIA Inc. (NYSE:PHIN) by 7.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 172,547 shares of the company’s stock after acquiring an additional 11,718 shares during the period. Public Sector Pension Investment Board’s holdings in PHINIA were worth $9,918,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PHIN. Voss Capital LP raised its holdings in shares of PHINIA by 10.8% during the 2nd quarter. Voss Capital LP now owns 2,290,000 shares of the company’s stock worth $101,882,000 after acquiring an additional 222,658 shares in the last quarter. Teacher Retirement System of Texas increased its position in PHINIA by 92.2% in the third quarter. Teacher Retirement System of Texas now owns 416,328 shares of the company’s stock worth $23,931,000 after purchasing an additional 199,756 shares during the last quarter. LSV Asset Management raised its stake in PHINIA by 19.4% during the second quarter. LSV Asset Management now owns 1,199,218 shares of the company’s stock valued at $53,353,000 after purchasing an additional 194,627 shares in the last quarter. Bank of America Corp DE raised its stake in PHINIA by 110.7% during the second quarter. Bank of America Corp DE now owns 259,308 shares of the company’s stock valued at $11,537,000 after purchasing an additional 136,214 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in PHINIA by 94.1% during the first quarter. Jane Street Group LLC now owns 250,278 shares of the company’s stock valued at $10,619,000 after purchasing an additional 121,312 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group restated a “neutral” rating and issued a $76.00 target price on shares of PHINIA in a report on Friday. Zacks Research upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. Northland Securities set a $93.00 price objective on PHINIA in a research report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Finally, BNP Paribas Exane upgraded PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 target price for the company in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.33.

PHINIA Stock Performance

PHINIA stock opened at $75.73 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.36. The firm has a market capitalization of $2.87 billion, a P/E ratio of 23.30 and a beta of 1.37. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $78.90. The company’s 50-day moving average is $66.70 and its 200 day moving average is $59.17.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, February 12th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.17). PHINIA had a net margin of 3.73% and a return on equity of 12.56%. The business had revenue of $889.00 million for the quarter, compared to analysts’ expectations of $843.59 million. During the same quarter last year, the firm earned $0.71 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Research analysts forecast that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $0.30 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from PHINIA’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. PHINIA’s payout ratio is 33.23%.

Insiders Place Their Bets

In other news, VP Hongyong Yang sold 893 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $52.43, for a total transaction of $46,819.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

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. 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.