FORA Capital LLC Raises Stake in PHINIA Inc. (NYSE:PHIN)

FORA Capital LLC increased its stake in PHINIA Inc. (NYSE:PHIN) by 92.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,402 shares of the company’s stock after acquiring an additional 10,302 shares during the quarter. FORA Capital LLC’s holdings in PHINIA were worth $985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new position in PHINIA in the 3rd quarter worth about $80,154,000. Great Lakes Advisors LLC increased its holdings 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 period. American Century Companies Inc. raised its position 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. Empowered Funds LLC purchased a new stake in shares of PHINIA in the 3rd quarter worth $10,504,000. Finally, Dimensional Fund Advisors LP grew its position 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. Institutional investors own 90.94% of the company’s stock.

PHINIA Trading Down 0.7 %

PHIN opened at $55.25 on Friday. PHINIA Inc. has a 12 month low of $25.19 and a 12 month high of $57.23. The stock has a fifty day moving average price of $48.37 and a 200-day moving average price of $45.44. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 23.71 and a beta of 0.86. 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 (NYSE:PHIN) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $829.82 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

PHINIA 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.