Jacobs Levy Equity Management Inc. Acquires 95,870 Shares of PHINIA Inc. (NYSE:PHIN)

Jacobs Levy Equity Management Inc. increased its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 10.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,016,602 shares of the company’s stock after purchasing an additional 95,870 shares during the quarter. Jacobs Levy Equity Management Inc. owned 2.42% of PHINIA worth $46,794,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. acquired a new stake in shares of PHINIA during the third quarter worth $80,154,000. Great Lakes Advisors LLC raised its stake in shares of PHINIA by 1,537.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock valued at $13,328,000 after purchasing an additional 317,935 shares during the period. American Century Companies Inc. lifted its holdings in shares of PHINIA by 33.2% in the second 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 in the last quarter. Empowered Funds LLC acquired a new position in shares of PHINIA during the third quarter worth about $10,504,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of PHINIA by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock worth $51,869,000 after buying an additional 215,150 shares during the period. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley lowered 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. UBS Group started coverage on shares of PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company.

PHINIA Trading Down 1.8 %

PHIN stock opened at $55.29 on Wednesday. PHINIA Inc. has a one year low of $26.08 and a one year high of $57.23. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 23.73 and a beta of 1.10. The company has a fifty day moving average price of $48.74 and a two-hundred day moving average price of $45.70. 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 (NYSE:PHIN) last posted its 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 company had revenue of $839.00 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.53 earnings per share. Equities analysts anticipate that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Monday, November 25th. 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.