Louisiana State Employees Retirement System Acquires New Holdings in PHINIA Inc. $PHIN

Louisiana State Employees Retirement System bought a new stake in PHINIA Inc. (NYSE:PHIN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 16,800 shares of the company’s stock, valued at approximately $1,150,000.

A number of other large investors have also added to or reduced their stakes in the company. Tudor Investment Corp ET AL acquired a new stake in PHINIA in the third quarter valued at approximately $3,850,000. Intech Investment Management LLC increased its position in shares of PHINIA by 634.1% during the fourth quarter. Intech Investment Management LLC now owns 119,432 shares of the company’s stock worth $7,487,000 after purchasing an additional 103,162 shares in the last quarter. Voss Capital LP lifted its holdings in shares of PHINIA by 2.8% during the 4th quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock valued at $108,295,000 after purchasing an additional 47,468 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of PHINIA by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock valued at $282,740,000 after purchasing an additional 44,599 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of PHINIA in the 4th quarter worth $8,639,000. 90.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings downgraded PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Zacks Research cut PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, KeyCorp started coverage on PHINIA in a research note on Friday, June 12th. They set an “overweight” rating and a $105.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, PHINIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.83.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Michael Coetzee sold 1,250 shares of the company’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 completion of the transaction, the vice president owned 27,009 shares in the company, valued at approximately $2,177,195.49. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Samantha Pombier sold 2,227 shares of the stock in a transaction dated Wednesday, June 10th. The stock was 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 in the company, valued at approximately $546,623.32. The trade was a 25.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is currently owned by company insiders.

PHINIA Stock Down 0.2%

PHINIA stock opened at $75.58 on Friday. The business’s 50-day moving average price is $78.29 and its 200 day moving average price is $72.10. 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 firm has a market cap of $2.80 billion, a price-to-earnings ratio of 21.11 and a beta of 1.13. PHINIA Inc. has a 52 week low of $46.70 and a 52 week high of $86.93.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The company had revenue of $878.00 million during 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%.PHINIA’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. As a group, sell-side analysts anticipate that PHINIA Inc. will post 6.24 earnings per share for the current year.

PHINIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. PHINIA’s dividend payout ratio is 33.52%.

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. 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.