Jane Street Group LLC Acquires 18,341 Shares of PHINIA Inc. (NYSE:PHIN)

Jane Street Group LLC boosted its holdings in PHINIA Inc. (NYSE:PHIN) by 297.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,516 shares of the company’s stock after purchasing an additional 18,341 shares during the quarter. Jane Street Group LLC owned about 0.06% of PHINIA worth $1,128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in PHINIA in the 2nd quarter valued at about $49,000. GAMMA Investing LLC raised its position in shares of PHINIA by 23.9% during the third 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. Rothschild Investment LLC bought a new position in shares of PHINIA in the 2nd quarter worth $66,000. KBC Group NV grew its position in PHINIA by 49.4% in the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after purchasing an additional 494 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in PHINIA during the 2nd quarter valued at $76,000. 90.94% of the stock is currently owned by institutional investors.

PHINIA Price Performance

PHIN opened at $48.23 on Monday. The firm’s fifty day moving average price is $50.66 and its two-hundred day moving average price is $46.58. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 20.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. PHINIA Inc. has a 1 year low of $27.86 and a 1 year high of $57.23.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $829.82 million. During the same period in the prior year, the firm posted $0.53 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. PHINIA’s dividend payout ratio (DPR) is presently 42.92%.

Wall Street Analyst Weigh In

PHIN has been the subject of several recent research reports. Morgan Stanley downgraded 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. UBS Group initiated coverage on PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective for the company.

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.