Wellington Management Group LLP Purchases 3,804 Shares of PHINIA Inc. (NYSE:PHIN)

Wellington Management Group LLP lifted its position in shares of PHINIA Inc. (NYSE:PHIN) by 1.2% in the third quarter, HoldingsChannel reports. The fund owned 333,395 shares of the company’s stock after buying an additional 3,804 shares during the period. Wellington Management Group LLP’s holdings in PHINIA were worth $15,346,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Systematic Financial Management LP bought a new stake in PHINIA during the 3rd quarter worth about $599,000. Quantinno Capital Management LP grew its position in shares of PHINIA by 2.4% during the 3rd quarter. Quantinno Capital Management LP now owns 14,637 shares of the company’s stock worth $674,000 after buying an additional 345 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of PHINIA by 10.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company’s stock worth $46,794,000 after buying an additional 95,870 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in PHINIA by 140.6% in the third quarter. HITE Hedge Asset Management LLC now owns 69,257 shares of the company’s stock valued at $3,188,000 after buying an additional 40,468 shares during the period. Finally, Atom Investors LP boosted its stake in PHINIA by 71.6% in the third quarter. Atom Investors LP now owns 142,612 shares of the company’s stock valued at $6,564,000 after acquiring an additional 59,515 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Down 1.2 %

Shares of NYSE:PHIN opened at $52.67 on Friday. The company has a 50 day moving average price of $49.99 and a two-hundred day moving average price of $46.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The company has a market capitalization of $2.22 billion, a PE ratio of 22.61 and a beta of 1.10. PHINIA Inc. has a 52 week low of $27.71 and a 52 week high of $57.23.

PHINIA (NYSE:PHIN) last released 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. The business had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Analysts forecast that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA’s dividend payout ratio is currently 42.92%.

Analysts Set New Price Targets

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

About PHINIA

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.