Hancock Whitney Corp Boosts Stock Position in PHINIA Inc. (NYSE:PHIN)

Hancock Whitney Corp raised its position in PHINIA Inc. (NYSE:PHIN) by 122.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,088 shares of the company’s stock after purchasing an additional 30,818 shares during the period. Hancock Whitney Corp’s holdings in PHINIA were worth $2,582,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PHIN. Pacer Advisors Inc. purchased a new stake in PHINIA in the 3rd quarter valued at about $80,154,000. Jacobs Levy Equity Management Inc. boosted its position in shares of PHINIA by 3,027.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock worth $16,839,000 after acquiring an additional 424,168 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in PHINIA by 1,537.3% in the second quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock valued at $13,328,000 after purchasing an additional 317,935 shares during the period. American Century Companies Inc. increased its position in 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 purchasing an additional 251,650 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in PHINIA during the third quarter worth approximately $10,504,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the transaction, the vice president now directly owns 29,540 shares in the company, valued at approximately $1,409,353.40. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PHIN. Morgan Stanley cut 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 started coverage on PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target for the company.

PHINIA Trading Up 2.9 %

NYSE PHIN opened at $56.39 on Tuesday. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 24.20 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 Inc. has a one year low of $25.19 and a one year high of $57.23. The company’s 50 day moving average price is $48.07 and its 200 day moving average price is $45.29.

PHINIA (NYSE:PHIN) last issued its earnings results 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 business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $829.82 million. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, sell-side analysts predict that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Monday, November 25th. PHINIA’s dividend payout ratio is presently 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.