HITE Hedge Asset Management LLC Has $3.19 Million Stake in PHINIA Inc. (NYSE:PHIN)

HITE Hedge Asset Management LLC lifted its position in shares of PHINIA Inc. (NYSE:PHIN) by 140.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,257 shares of the company’s stock after buying an additional 40,468 shares during the quarter. HITE Hedge Asset Management LLC owned about 0.16% of PHINIA worth $3,188,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in PHINIA by 147.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,512 shares of the company’s stock valued at $1,404,000 after purchasing an additional 21,731 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in PHINIA by 36.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 26,753 shares of the company’s stock valued at $1,028,000 after buying an additional 7,214 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in PHINIA by 8.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 16,527 shares of the company’s stock worth $635,000 after buying an additional 1,300 shares during the last quarter. GAMMA Investing LLC increased its stake in PHINIA by 100.4% during the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after acquiring an additional 567 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its stake in shares of PHINIA by 38.5% in the second quarter. CHICAGO TRUST Co NA now owns 8,826 shares of the company’s stock valued at $347,000 after buying an additional 2,454 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PHIN shares. Morgan Stanley lowered 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 began coverage on shares of PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company.

PHINIA Price Performance

PHIN stock opened at $56.30 on Tuesday. The firm’s fifty day moving average is $48.74 and its 200 day moving average is $45.70. The firm has a market cap of $2.37 billion, a P/E ratio of 24.16 and a beta of 1.09. 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 52 week low of $26.08 and a 52 week high of $57.23.

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

PHINIA Announces Dividend

The business 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 1.78%. PHINIA’s dividend payout ratio is currently 42.92%.

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.