Swedbank AB Buys 41,200 Shares of PHINIA Inc. (NYSE:PHIN)

Swedbank AB grew its holdings in PHINIA Inc. (NYSE:PHIN) by 161.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,752 shares of the company’s stock after acquiring an additional 41,200 shares during the quarter. Swedbank AB’s holdings in PHINIA were worth $3,073,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in PHINIA by 147.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,512 shares of the company’s stock worth $1,404,000 after acquiring an additional 21,731 shares in the last quarter. SG Americas Securities LLC boosted its holdings in PHINIA by 157.3% in the second quarter. SG Americas Securities LLC now owns 100,845 shares of the company’s stock worth $3,969,000 after acquiring an additional 61,650 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in PHINIA in the third quarter worth about $1,073,000. Vanguard Group Inc. boosted its holdings in PHINIA by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock worth $207,848,000 after acquiring an additional 102,769 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in PHINIA by 33.2% in the second quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock worth $39,718,000 after acquiring an additional 251,650 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Down 0.7 %

Shares of PHIN stock opened at $55.24 on Thursday. The stock has a 50 day moving average of $48.23 and a 200 day moving average of $45.37. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2.32 billion, a P/E ratio of 23.71 and a beta of 0.86. PHINIA Inc. has a twelve month low of $25.19 and a twelve month high of $57.23.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data 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 analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. PHINIA’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, sell-side analysts expect that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. PHINIA’s dividend payout ratio is currently 42.92%.

Analyst Ratings Changes

Several brokerages have weighed in on PHIN. UBS Group began coverage on PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target for the company. Morgan Stanley cut PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Wednesday, September 25th.

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.