PHINIA Inc. (NYSE:PHIN) Stake Reduced by Algert Global LLC

Algert Global LLC cut its holdings in PHINIA Inc. (NYSE:PHIN) by 42.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,592 shares of the company’s stock after selling 21,613 shares during the quarter. Algert Global LLC owned about 0.07% of PHINIA worth $1,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. bought a new stake in PHINIA in the third quarter worth about $80,154,000. Foundry Partners LLC bought a new stake in PHINIA in the third quarter worth about $7,911,000. Intech Investment Management LLC bought a new stake in PHINIA in the third quarter worth about $390,000. Segall Bryant & Hamill LLC bought a new stake in PHINIA in the third quarter worth about $1,073,000. Finally, Chesapeake Capital Corp IL bought a new stake in PHINIA in the third quarter worth about $538,000. 90.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PHIN has been the subject of a number of analyst reports. Morgan Stanley lowered shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Wednesday, September 25th. UBS Group initiated coverage on shares of PHINIA in a research note on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective for the company.

PHINIA Price Performance

PHIN stock opened at $55.25 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a one year low of $25.19 and a one year high of $57.23. The firm has a market capitalization of $2.32 billion, a PE ratio of 23.71 and a beta of 0.86. The firm has a 50-day moving average of $48.37 and a two-hundred day moving average of $45.44.

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. The company had revenue of $839.00 million during 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 business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, analysts forecast that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Announces Dividend

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

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.