Canada Pension Plan Investment Board Makes New $2.40 Million Investment in PHINIA Inc. (NYSE:PHIN)

Canada Pension Plan Investment Board acquired a new stake in PHINIA Inc. (NYSE:PHIN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 60,900 shares of the company’s stock, valued at approximately $2,397,000. Canada Pension Plan Investment Board owned approximately 0.13% of PHINIA at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PHIN. Charles Schwab Investment Management Inc. raised its stake in PHINIA by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 337,218 shares of the company’s stock valued at $10,214,000 after purchasing an additional 14,289 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of PHINIA by 8.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 26,497 shares of the company’s stock worth $803,000 after acquiring an additional 2,026 shares during the period. Norges Bank acquired a new stake in shares of PHINIA during the 4th quarter worth approximately $16,896,000. US Bancorp DE increased its stake in PHINIA by 17.5% in the fourth quarter. US Bancorp DE now owns 21,360 shares of the company’s stock valued at $647,000 after acquiring an additional 3,184 shares during the last quarter. Finally, Commerce Bank acquired a new position in PHINIA during the fourth quarter valued at approximately $394,000. 90.94% of the stock is currently owned by institutional investors.

Insider Activity at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the completion of the sale, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PHIN shares. UBS Group assumed coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target on the stock. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research note on Wednesday.

PHINIA Stock Performance

Shares of PHINIA stock opened at $46.85 on Friday. PHINIA Inc. has a fifty-two week low of $23.46 and a fifty-two week high of $52.19. The firm has a market capitalization of $2.14 billion, a P/E ratio of 9.64 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38. The company’s 50 day moving average price is $45.77 and its two-hundred day moving average price is $42.45.

PHINIA (NYSE:PHIN) last posted its earnings results on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.27). The business had revenue of $868.00 million for the quarter, compared to analyst estimates of $889.00 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share. On average, equities analysts forecast that PHINIA Inc. will post 3.37 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, August 23rd. PHINIA’s dividend payout ratio is currently 20.58%.

PHINIA 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.