Dimensional Fund Advisors LP Increases Stock Position in PHINIA Inc. $PHIN

Dimensional Fund Advisors LP raised its stake in shares of PHINIA Inc. (NYSE:PHIN) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,336,499 shares of the company’s stock after purchasing an additional 34,503 shares during the period. Dimensional Fund Advisors LP owned 6.31% of PHINIA worth $159,901,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PHIN. ProShare Advisors LLC increased its holdings in shares of PHINIA by 1.9% in the fourth quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock worth $464,000 after purchasing an additional 141 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV increased its stake in PHINIA by 2.7% in the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 5,816 shares of the company’s stock worth $365,000 after acquiring an additional 155 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in PHINIA by 2.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,748 shares of the company’s stock worth $548,000 after acquiring an additional 207 shares during the last quarter. Old North State Wealth Management LLC raised its holdings in shares of PHINIA by 2.5% during the 4th quarter. Old North State Wealth Management LLC now owns 10,253 shares of the company’s stock worth $643,000 after acquiring an additional 250 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of PHINIA by 151.5% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $27,000 after acquiring an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Down 0.2%

PHIN stock opened at $78.23 on Monday. PHINIA Inc. has a 52 week low of $48.94 and a 52 week high of $86.93. The firm has a 50 day moving average of $79.09 and a 200 day moving average of $74.00. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $2.90 billion, a PE ratio of 21.85 and a beta of 1.13.

PHINIA (NYSE:PHIN) last released its earnings results on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. The firm had revenue of $878.00 million for the quarter, compared to the consensus estimate of $838.67 million. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. Sell-side analysts forecast that PHINIA Inc. will post 6.24 earnings per share for the current year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 9th. PHINIA’s dividend payout ratio is 33.52%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PHIN. UBS Group boosted their price target on shares of PHINIA from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Zacks Research cut PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. KeyCorp initiated coverage on shares of PHINIA in a report on Friday, June 12th. They issued an “overweight” rating and a $105.00 price target on the stock. Finally, Weiss Ratings upgraded PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.67.

Insider Buying and Selling at PHINIA

In related news, VP Samantha Pombier sold 2,227 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total transaction of $183,415.72. Following the sale, the vice president directly owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. This represents a 25.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total value of $100,762.50. Following the sale, the vice president owned 27,009 shares in the company, valued at $2,177,195.49. This trade represents a 4.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.20% of the stock is currently owned by corporate insiders.

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.