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

Public Sector Pension Investment Board boosted its position in PHINIA Inc. (NYSE:PHIN) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,547 shares of the company’s stock after purchasing an additional 11,718 shares during the period. Public Sector Pension Investment Board owned about 0.45% of PHINIA worth $9,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PHIN. LSV Asset Management boosted its holdings in shares of PHINIA by 13.8% in the third quarter. LSV Asset Management now owns 1,364,534 shares of the company’s stock worth $78,433,000 after buying an additional 165,316 shares during the last quarter. Versor Investments LP bought a new position in PHINIA in the third quarter worth approximately $471,000. State of Michigan Retirement System purchased a new position in shares of PHINIA during the 3rd quarter worth $242,000. Optimize Financial Inc purchased a new position in shares of PHINIA during the 3rd quarter worth $311,000. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of PHINIA during the 3rd quarter valued at $1,915,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Insider Activity at PHINIA

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 value of $46,819.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BNP Paribas Exane raised PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 target price on the stock in a report on Monday, November 3rd. Zacks Research upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. Wall Street Zen downgraded PHINIA from a “strong-buy” rating to a “buy” rating in a research note on Saturday. UBS Group reiterated a “neutral” rating and set a $76.00 price objective on shares of PHINIA in a research note on Friday. Finally, Northland Securities set a $93.00 target price on shares of PHINIA in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, PHINIA presently has an average rating of “Moderate Buy” and a consensus target price of $66.33.

PHINIA Price Performance

NYSE:PHIN opened at $75.73 on Tuesday. The business’s 50-day simple moving average is $66.70 and its two-hundred day simple moving average is $59.17. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $78.90. The stock has a market cap of $2.87 billion, a PE ratio of 23.30 and a beta of 1.37. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last released 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). The business had revenue of $889.00 million for the quarter, compared to analysts’ expectations of $843.59 million. PHINIA had a return on equity of 12.56% and a net margin of 3.73%.During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, March 6th. This is an increase from PHINIA’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. PHINIA’s dividend payout ratio (DPR) is 33.23%.

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.