The Manufacturers Life Insurance Company Has $1.09 Million Stake in PHINIA Inc. (NYSE:PHIN)

The Manufacturers Life Insurance Company decreased its position in shares of PHINIA Inc. (NYSE:PHIN) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,773 shares of the company’s stock after selling 1,972 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of PHINIA worth $1,094,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PHIN. Segall Bryant & Hamill LLC acquired a new position in PHINIA during the 3rd quarter worth about $1,073,000. Royce & Associates LP acquired a new position in PHINIA during the 3rd quarter worth about $695,000. American Century Companies Inc. lifted its holdings in PHINIA by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock worth $39,718,000 after buying an additional 251,650 shares during the period. Swedbank AB lifted its holdings in PHINIA by 161.2% during the 3rd quarter. Swedbank AB now owns 66,752 shares of the company’s stock worth $3,073,000 after buying an additional 41,200 shares during the period. Finally, Foundry Partners LLC acquired a new position in PHINIA during the 3rd quarter worth about $7,911,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PHIN. Morgan Stanley downgraded 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. UBS Group started coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price objective on the stock.

PHINIA Price Performance

Shares of NYSE PHIN opened at $53.57 on Thursday. PHINIA Inc. has a twelve month low of $26.30 and a twelve month high of $57.23. The stock’s 50 day moving average price is $49.69 and its 200-day moving average price is $46.14. The company has a market capitalization of $2.25 billion, a PE ratio of 22.99 and a beta of 1.09. 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 posted its quarterly earnings data 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 return on equity of 9.79% and a net margin of 3.10%. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $829.82 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. PHINIA’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities analysts anticipate that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given 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 1.87%. PHINIA’s dividend payout ratio 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.