PHINIA Inc. (NYSE:PHIN) Holdings Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 187,294 shares of the company’s stock after buying an additional 40,416 shares during the period. Victory Capital Management Inc. owned 0.45% of PHINIA worth $8,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in PHINIA by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock worth $65,000 after purchasing an additional 271 shares during the period. Old North State Wealth Management LLC grew its stake in PHINIA by 4.9% in the third quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company’s stock valued at $442,000 after purchasing an additional 451 shares in the last quarter. CHICAGO TRUST Co NA raised its stake in shares of PHINIA by 8.1% during the 3rd quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company’s stock worth $439,000 after purchasing an additional 713 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of PHINIA by 15.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company’s stock valued at $343,000 after buying an additional 1,169 shares during the last quarter. Finally, Long Road Investment Counsel LLC grew its stake in shares of PHINIA by 10.3% in the 2nd quarter. Long Road Investment Counsel LLC now owns 12,906 shares of the company’s stock valued at $508,000 after buying an additional 1,200 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PHINIA news, VP Michael Coetzee sold 900 shares of the 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 of the company’s stock, valued at approximately $1,409,353.40. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PHINIA Stock Up 2.7 %

NYSE PHIN opened at $54.19 on Friday. PHINIA Inc. has a 1-year low of $25.19 and a 1-year high of $54.55. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average is $47.68 and its two-hundred day moving average is $45.07. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 23.26 and a beta of 0.86.

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

PHINIA Dividend Announcement

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 paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. PHINIA’s dividend payout ratio (DPR) is currently 42.92%.

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.