Intech Investment Management LLC Buys Shares of 8,483 PHINIA Inc. (NYSE:PHIN)

Intech Investment Management LLC purchased a new position in shares of PHINIA Inc. (NYSE:PHIN) in the third quarter, HoldingsChannel reports. The fund purchased 8,483 shares of the company’s stock, valued at approximately $390,000.

Several other large investors have also made changes to their positions in the business. Great Lakes Advisors LLC boosted its stake in PHINIA by 1,537.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock worth $13,328,000 after purchasing an additional 317,935 shares during the last quarter. American Century Companies Inc. grew its position in shares of PHINIA by 33.2% during the second quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock worth $39,718,000 after acquiring an additional 251,650 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of PHINIA in the 3rd quarter valued at approximately $10,504,000. Dimensional Fund Advisors LP raised its stake in shares of PHINIA by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock worth $51,869,000 after buying an additional 215,150 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of PHINIA by 377.9% during the 2nd quarter. Victory Capital Management Inc. now owns 146,878 shares of the company’s stock worth $5,781,000 after purchasing an additional 116,145 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Price Performance

NYSE PHIN opened at $55.29 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. The firm has a market capitalization of $2.33 billion, a PE ratio of 23.73 and a beta of 1.10. The company’s 50 day simple moving average is $48.74 and its 200 day simple moving average is $45.70. PHINIA Inc. has a 12 month low of $26.08 and a 12 month high of $57.23.

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

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 1.81%. PHINIA’s payout ratio is 42.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PHIN shares. Morgan Stanley lowered shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research report on Wednesday, September 25th. UBS Group started coverage on PHINIA in a research note on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective on the stock.

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.