New York State Teachers Retirement System Reduces Position in PHINIA Inc. $PHIN

New York State Teachers Retirement System cut its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 62,768 shares of the company’s stock after selling 1,268 shares during the quarter. New York State Teachers Retirement System’s holdings in PHINIA were worth $2,793,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Voss Capital LP lifted its holdings in PHINIA by 45.9% during the first quarter. Voss Capital LP now owns 2,067,342 shares of the company’s stock valued at $87,717,000 after purchasing an additional 650,261 shares during the last quarter. American Century Companies Inc. boosted its stake in PHINIA by 7.5% in the 1st quarter. American Century Companies Inc. now owns 1,520,567 shares of the company’s stock worth $64,518,000 after purchasing an additional 106,412 shares during the period. LSV Asset Management increased its position in shares of PHINIA by 20.7% during the first quarter. LSV Asset Management now owns 1,004,591 shares of the company’s stock valued at $42,625,000 after buying an additional 172,355 shares during the period. Goldman Sachs Group Inc. increased its position in shares of PHINIA by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock valued at $41,462,000 after buying an additional 58,875 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in shares of PHINIA by 1.1% during the first quarter. Bridgeway Capital Management LLC now owns 456,832 shares of the company’s stock valued at $19,383,000 after buying an additional 4,911 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PHIN shares. Wall Street Zen upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Saturday, July 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PHINIA in a research report on Wednesday, October 8th. Bank of America upped their price target on PHINIA from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. UBS Group upped their price target on PHINIA from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Finally, Citigroup reiterated a “neutral” rating on shares of PHINIA in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.83.

PHINIA Stock Up 2.0%

Shares of NYSE PHIN opened at $54.17 on Wednesday. PHINIA Inc. has a one year low of $36.25 and a one year high of $59.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.86 and a quick ratio of 1.36. The firm’s 50 day simple moving average is $56.64 and its two-hundred day simple moving average is $48.80. The stock has a market capitalization of $2.11 billion, a P/E ratio of 20.92, a PEG ratio of 0.51 and a beta of 1.48.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.28. The firm had revenue of $890.00 million during 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 quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. PHINIA has set its FY 2025 guidance at EPS. As a group, analysts expect that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 22nd. PHINIA’s dividend payout ratio is 41.70%.

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.