Intech Investment Management LLC Makes New Investment in PHINIA Inc. (NYSE:PHIN)

Intech Investment Management LLC bought a new stake in shares of PHINIA Inc. (NYSE:PHIN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,483 shares of the company’s stock, valued at approximately $390,000.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in PHINIA by 100.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after purchasing an additional 567 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PHINIA in the second quarter worth approximately $49,000. Rothschild Investment LLC purchased a new stake in shares of PHINIA during the second quarter valued at approximately $66,000. KBC Group NV boosted its position in shares of PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after buying an additional 494 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in PHINIA in the 2nd quarter worth about $76,000. 90.94% of the stock is owned by institutional investors.

PHINIA Stock Down 1.8 %

NYSE PHIN opened at $55.29 on Wednesday. The company has a market capitalization of $2.33 billion, a P/E ratio of 23.73 and a beta of 1.10. PHINIA Inc. has a 52 week low of $26.08 and a 52 week high of $57.23. The stock’s 50-day moving average price is $48.74 and its 200-day moving average price is $45.70. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58.

PHINIA (NYSE:PHIN) last issued its 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. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The company 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 company earned $0.53 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. On average, equities research analysts predict that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Announces Dividend

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

Analysts Set New Price Targets

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

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.