Thrivent Financial for Lutherans Sells 3,624 Shares of PHINIA Inc. (NYSE:PHIN)

Thrivent Financial for Lutherans lowered its stake in PHINIA Inc. (NYSE:PHIN) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,300 shares of the company’s stock after selling 3,624 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of PHINIA worth $1,579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in PHINIA by 147.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,512 shares of the company’s stock valued at $1,404,000 after acquiring an additional 21,731 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of PHINIA by 157.3% in the second quarter. SG Americas Securities LLC now owns 100,845 shares of the company’s stock valued at $3,969,000 after purchasing an additional 61,650 shares in the last quarter. Swedbank AB acquired a new position in shares of PHINIA during the first quarter worth about $982,000. Royce & Associates LP bought a new position in shares of PHINIA during the third quarter worth about $695,000. Finally, American Century Companies Inc. raised its position in 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 buying an additional 251,650 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PHIN shares. UBS Group began coverage on PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target 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 $56.19 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. The business has a 50-day moving average of $48.49 and a 200-day moving average of $45.51. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 23.71 and a beta of 0.86. PHINIA Inc. has a fifty-two week low of $25.39 and a fifty-two week high of $57.23.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.79 by $0.38. The firm had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. As a group, sell-side analysts predict that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 1.78%. PHINIA’s payout ratio is 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.