Segall Bryant & Hamill LLC Takes Position in PHINIA Inc. (NYSE:PHIN)

Segall Bryant & Hamill LLC bought a new stake in shares of PHINIA Inc. (NYSE:PHIN) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 23,320 shares of the company’s stock, valued at approximately $1,073,000. Segall Bryant & Hamill LLC owned about 0.06% of PHINIA as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of PHINIA by 100.4% during the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after buying an additional 567 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PHINIA during the second quarter valued at approximately $49,000. EntryPoint Capital LLC bought a new position in shares of PHINIA during the first quarter valued at approximately $60,000. Rothschild Investment LLC bought a new position in shares of PHINIA during the second quarter valued at approximately $66,000. Finally, KBC Group NV grew its stake in shares of PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after buying an additional 494 shares during the last quarter. Institutional investors own 90.94% of the company’s stock.

Insiders Place Their Bets

In other PHINIA news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total transaction of $42,939.00. Following the completion of the sale, the vice president now owns 29,540 shares in the company, valued at $1,409,353.40. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

PHINIA Stock Up 1.6 %

Shares of NYSE:PHIN opened at $55.06 on Friday. PHINIA Inc. has a 52-week low of $25.19 and a 52-week high of $55.54. The stock has a market cap of $2.32 billion, a P/E ratio of 23.63 and a beta of 0.86. The business’s 50 day moving average is $47.86 and its 200 day moving average is $45.17. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58.

PHINIA (NYSE:PHIN) last posted its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.38. The company had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. PHINIA’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. Sell-side analysts predict that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. PHINIA’s dividend payout ratio is currently 42.92%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley cut PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research note on Wednesday, September 25th. UBS Group initiated coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price objective on the stock.

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.