Empowered Funds LLC Has $11.55 Million Stock Holdings in PHINIA Inc. (NYSE:PHIN)

Empowered Funds LLC lifted its position in shares of PHINIA Inc. (NYSE:PHIN) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239,821 shares of the company’s stock after purchasing an additional 11,625 shares during the period. Empowered Funds LLC’s holdings in PHINIA were worth $11,552,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. acquired a new position in shares of PHINIA during the 3rd quarter worth about $80,154,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of PHINIA by 10.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company’s stock worth $46,794,000 after buying an additional 95,870 shares during the period. Wellington Management Group LLP boosted its holdings in shares of PHINIA by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 333,395 shares of the company’s stock worth $15,346,000 after buying an additional 3,804 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of PHINIA by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 227,742 shares of the company’s stock worth $10,483,000 after buying an additional 2,422 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of PHINIA by 27.5% during the 3rd quarter. Victory Capital Management Inc. now owns 187,294 shares of the company’s stock worth $8,621,000 after buying an additional 40,416 shares during the period. 90.94% of the stock is currently owned by institutional investors and hedge funds.

PHINIA Stock Performance

NYSE PHIN opened at $49.91 on Friday. The firm has a 50-day moving average price of $50.29 and a two-hundred day moving average price of $48.30. PHINIA Inc. has a 12-month low of $29.42 and a 12-month high of $57.23. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $2.10 billion, a P/E ratio of 21.42 and a beta of 1.35.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA’s dividend payout ratio (DPR) is presently 42.92%.

Analyst Upgrades and Downgrades

Several analysts recently commented on PHIN shares. Northland Securities started coverage on shares of PHINIA in a report on Thursday, January 30th. They set an “outperform” rating and a $61.00 target price for the company. UBS Group lifted their target price on shares of PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th.

PHINIA 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.