New York State Teachers Retirement System Has $2.79 Million Stake in PHINIA Inc. $PHIN

New York State Teachers Retirement System lowered its stake in PHINIA Inc. (NYSE:PHIN) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,768 shares of the company’s stock after selling 1,268 shares during the quarter. New York State Teachers Retirement System owned 0.16% of PHINIA worth $2,793,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PHIN. Brooklyn Investment Group increased its stake in shares of PHINIA by 853.0% in the 1st quarter. Brooklyn Investment Group now owns 1,582 shares of the company’s stock valued at $67,000 after acquiring an additional 1,416 shares in the last quarter. One Wealth Advisors LLC bought a new stake in shares of PHINIA in the 1st quarter valued at $210,000. Advisors Asset Management Inc. bought a new stake in shares of PHINIA in the 1st quarter valued at $220,000. Eisler Capital Management Ltd. bought a new stake in shares of PHINIA in the 1st quarter valued at $223,000. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of PHINIA by 11.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,498 shares of the company’s stock valued at $233,000 after acquiring an additional 560 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

PHIN has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Morgan Stanley boosted their price target on shares of PHINIA from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. Citigroup restated a “neutral” rating on shares of PHINIA in a research note on Tuesday, October 14th. Zacks Research lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Bank of America boosted their price target on shares of PHINIA from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.83.

PHINIA Price Performance

PHIN opened at $54.17 on Wednesday. The firm has a market cap of $2.11 billion, a P/E ratio of 20.92, a PEG ratio of 0.51 and a beta of 1.48. The firm has a 50-day moving average of $56.64 and a 200 day moving average of $48.80. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $59.88.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.28. The company had revenue of $890.00 million during the quarter, compared to analyst estimates of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. PHINIA has set its FY 2025 guidance at EPS. On average, research analysts expect that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Announces Dividend

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

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.