KBC Group NV Grows Position in PHINIA Inc. (NYSE:PHIN)

KBC Group NV raised its position in PHINIA Inc. (NYSE:PHIN) by 49.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,495 shares of the company’s stock after buying an additional 494 shares during the quarter. KBC Group NV’s holdings in PHINIA were worth $69,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of PHINIA by 1.9% during the first quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock worth $207,848,000 after buying an additional 102,769 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in PHINIA by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock worth $51,869,000 after acquiring an additional 215,150 shares during the period. American Century Companies Inc. grew its stake in shares of PHINIA by 33.2% in the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock valued at $39,718,000 after purchasing an additional 251,650 shares during the last quarter. LSV Asset Management increased its holdings in shares of PHINIA by 0.7% in the second quarter. LSV Asset Management now owns 780,569 shares of the company’s stock valued at $30,723,000 after purchasing an additional 5,792 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of PHINIA by 12.0% during the second quarter. Bank of New York Mellon Corp now owns 532,759 shares of the company’s stock worth $20,969,000 after purchasing an additional 57,068 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of PHINIA in a research note on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target on the stock. Morgan Stanley cut PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research report on Wednesday, September 25th.

Insider Activity

In related news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

PHINIA Trading Up 1.6 %

Shares of PHIN opened at $55.06 on Friday. 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 $25.19 and a 1-year high of $55.54. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 23.63 and a beta of 0.86. The firm has a 50 day simple moving average of $47.86 and a 200-day simple moving average of $45.17.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $829.82 million. During the same quarter last year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities analysts forecast that PHINIA Inc. will post 3.44 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, November 25th. PHINIA’s dividend payout ratio (DPR) is 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.