Envestnet Asset Management Inc. Grows Holdings in PHINIA Inc. (NYSE:PHIN)

Envestnet Asset Management Inc. boosted its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 41.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,701 shares of the company’s stock after purchasing an additional 2,831 shares during the period. Envestnet Asset Management Inc.’s holdings in PHINIA were worth $412,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in shares of PHINIA by 8.2% in the first quarter. Janney Montgomery Scott LLC now owns 9,196 shares of the company’s stock valued at $390,000 after buying an additional 698 shares in the last quarter. Principal Financial Group Inc. grew its position in PHINIA by 0.6% during the first quarter. Principal Financial Group Inc. now owns 229,854 shares of the company’s stock worth $9,753,000 after buying an additional 1,270 shares during the period. Barclays PLC increased its holdings in PHINIA by 14.7% in the fourth quarter. Barclays PLC now owns 83,529 shares of the company’s stock valued at $4,023,000 after buying an additional 10,724 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of PHINIA by 4.2% during the 4th quarter. Alliancebernstein L.P. now owns 60,963 shares of the company’s stock valued at $2,937,000 after acquiring an additional 2,445 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of PHINIA during the 1st quarter worth approximately $357,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PHIN shares. Wall Street Zen raised PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. BNP Paribas downgraded PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price target for the company. in a research note on Wednesday, April 23rd. UBS Group reiterated a “neutral” rating and issued a $55.00 price objective (up from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Morgan Stanley dropped their target price on shares of PHINIA from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. Finally, Bank of America lifted their target price on shares of PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, PHINIA presently has a consensus rating of “Moderate Buy” and an average target price of $52.83.

Insider Activity at PHINIA

In related news, Director Meggan M. Walsh bought 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $42.71 per share, with a total value of $59,794.00. Following the completion of the transaction, the director owned 7,492 shares of the company’s stock, valued at approximately $319,983.32. The trade was a 22.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

PHINIA Price Performance

NYSE:PHIN opened at $50.57 on Thursday. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $57.23. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 0.47 and a beta of 1.51. The company’s 50-day moving average is $46.40 and its two-hundred day moving average is $45.43. 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 (NYSE:PHIN) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.28. The company had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 EPS. Research analysts expect that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.1%. PHINIA’s dividend payout ratio is currently 41.70%.

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.