Nisa Investment Advisors LLC Increases Position in PHINIA Inc. (NYSE:PHIN)

Nisa Investment Advisors LLC raised its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,080 shares of the company’s stock after buying an additional 274 shares during the period. Nisa Investment Advisors LLC’s holdings in PHINIA were worth $725,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PHIN. Millennium Management LLC raised its stake in PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company’s stock worth $116,810,000 after buying an additional 535,222 shares in the last quarter. First Trust Advisors LP increased its position in shares of PHINIA by 32.6% during the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company’s stock worth $89,928,000 after purchasing an additional 458,650 shares in the last quarter. Voss Capital LP increased its position in shares of PHINIA by 31.8% in the 4th quarter. Voss Capital LP now owns 1,417,081 shares of the company’s stock valued at $68,261,000 after acquiring an additional 342,081 shares during the period. Dimensional Fund Advisors LP increased its position in shares of PHINIA by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company’s stock valued at $98,653,000 after acquiring an additional 253,345 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new position in shares of PHINIA in the 4th quarter valued at $6,874,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Down 2.1%

Shares of NYSE PHIN opened at $47.94 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.85 and a quick ratio of 1.36. The company has a market capitalization of $1.91 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 0.52 and a beta of 1.49. The firm’s 50-day moving average is $44.22 and its two-hundred day moving average is $45.26. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $57.23.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). The company had revenue of $796.00 million for the quarter, compared to analysts’ expectations of $813.24 million. PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. Equities analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Monday, June 2nd. PHINIA’s payout ratio is 61.36%.

Insiders Place Their Bets

In other news, Director Meggan M. Walsh purchased 1,400 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average cost of $42.71 per share, with a total value of $59,794.00. Following the acquisition, the director owned 7,492 shares in the company, valued at approximately $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brady D. Ericson purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were purchased at an average cost of $39.73 per share, with a total value of $397,300.00. Following the completion of the acquisition, the chief executive officer owned 436,486 shares in the company, valued at approximately $17,341,588.78. This represents a 2.34% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 11,423 shares of company stock valued at $458,069. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PHIN shares. Morgan Stanley lowered their target price on shares of PHINIA from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, May 19th. BNP Paribas downgraded shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price target for the company. in a report on Wednesday, April 23rd. UBS Group raised their price target on shares of PHINIA from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday. CL King started coverage on shares of PHINIA in a research report on Monday, March 24th. They set a “buy” rating and a $54.00 price objective for the company. Finally, Bank of America raised their price target on shares of PHINIA from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PHINIA has an average rating of “Moderate Buy” and a consensus target price of $52.33.

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.