Victory Capital Management Inc. Purchases 40,416 Shares of PHINIA Inc. (NYSE:PHIN)

Victory Capital Management Inc. increased its position in PHINIA Inc. (NYSE:PHIN) by 27.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 187,294 shares of the company’s stock after purchasing an additional 40,416 shares during the quarter. Victory Capital Management Inc.’s holdings in PHINIA were worth $8,621,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PHIN. Jacobs Levy Equity Management Inc. raised its stake in PHINIA by 3,027.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock worth $16,839,000 after buying an additional 424,168 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in PHINIA by 1,537.3% during the second quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock worth $13,328,000 after acquiring an additional 317,935 shares in the last quarter. American Century Companies Inc. increased its stake in PHINIA by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock valued at $39,718,000 after purchasing an additional 251,650 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PHINIA by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock valued at $51,869,000 after acquiring an additional 215,150 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in PHINIA by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock worth $207,848,000 after buying an additional 102,769 shares during the period. 90.94% of the stock is currently owned by institutional investors.

PHINIA Trading Up 2.7 %

PHIN opened at $54.19 on Friday. PHINIA Inc. has a one year low of $25.19 and a one year high of $54.55. The stock’s 50 day moving average price is $47.68 and its 200-day moving average price is $45.07. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 23.26 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93.

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

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be given a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. PHINIA’s payout ratio is presently 42.92%.

Analyst Upgrades and Downgrades

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

Insider Activity

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