Heartland Advisors Inc. Acquires 157,018 Shares of PHINIA Inc. $PHIN

Heartland Advisors Inc. increased its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 157.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 257,018 shares of the company’s stock after buying an additional 157,018 shares during the quarter. Heartland Advisors Inc.’s holdings in PHINIA were worth $14,773,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. EMC Capital Management acquired a new position in PHINIA during the second quarter worth about $39,000. TD Waterhouse Canada Inc. grew its holdings in shares of PHINIA by 350.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $42,000 after purchasing an additional 700 shares during the last quarter. State of Wyoming acquired a new position in PHINIA during the 2nd quarter worth approximately $60,000. Traub Capital Management LLC acquired a new position in PHINIA during the 2nd quarter worth approximately $77,000. Finally, CWM LLC lifted its stake in PHINIA by 76.8% in the 3rd quarter. CWM LLC now owns 1,448 shares of the company’s stock valued at $83,000 after purchasing an additional 629 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of PHINIA from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research raised PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. UBS Group restated a “neutral” rating and set a $76.00 price objective on shares of PHINIA in a research report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of PHINIA in a research report on Monday, December 29th. Finally, Northland Securities set a $93.00 price target on PHINIA in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.33.

Insider Activity at PHINIA

In related news, VP Hongyong Yang sold 893 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $52.43, for a total value of $46,819.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

PHINIA Stock Performance

NYSE PHIN opened at $75.73 on Tuesday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 23.30 and a beta of 1.37. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $78.90. The stock has a fifty day simple moving average of $66.70 and a 200 day simple moving average of $59.17. 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 announced its earnings results on Thursday, February 12th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.17). PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The company had revenue of $889.00 million for the quarter, compared to analyst estimates of $843.59 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts expect that PHINIA Inc. will post 4.21 EPS for the current 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. This is a positive change from PHINIA’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 6th. PHINIA’s dividend payout ratio 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.