Principal Financial Group Inc. Raises Position in PHINIA Inc. (NYSE:PHIN)

Principal Financial Group Inc. lifted its stake in shares of PHINIA Inc. (NYSE:PHIN) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,742 shares of the company’s stock after buying an additional 2,422 shares during the period. Principal Financial Group Inc. owned about 0.54% of PHINIA worth $10,483,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PHIN. GAMMA Investing LLC grew its position 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 in the last quarter. Quantinno Capital Management LP grew its holdings in shares of PHINIA by 2.4% in the third quarter. Quantinno Capital Management LP now owns 14,637 shares of the company’s stock valued at $674,000 after acquiring an additional 345 shares in the last quarter. Old North State Wealth Management LLC increased its position in shares of PHINIA by 4.9% during the third quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company’s stock valued at $442,000 after acquiring an additional 451 shares during the last quarter. KBC Group NV boosted its position in PHINIA by 49.4% in the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after purchasing an additional 494 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its stake in PHINIA by 8.1% in the 3rd quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company’s stock valued at $439,000 after purchasing an additional 713 shares during the period. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Wall Street Analyst Weigh In

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

PHINIA Price Performance

Shares of NYSE PHIN opened at $47.48 on Tuesday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 20.38 and a beta of 1.10. The stock has a fifty day simple moving average of $50.66 and a two-hundred day simple moving average of $46.62. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a 1-year low of $27.86 and a 1-year high of $57.23.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.38. The company had revenue of $839.00 million during 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%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. Analysts anticipate 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 was paid on Friday, December 13th. Investors of record on Monday, November 25th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA’s dividend payout ratio (DPR) is presently 42.92%.

About PHINIA

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.