Swedbank AB Grows Holdings in PHINIA Inc. (NYSE:PHIN)

Swedbank AB grew its holdings in PHINIA Inc. (NYSE:PHIN) by 161.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,752 shares of the company’s stock after purchasing an additional 41,200 shares during the period. Swedbank AB owned about 0.16% of PHINIA worth $3,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake 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 purchasing an additional 102,769 shares during the period. Pacer Advisors Inc. purchased a new stake in PHINIA in the third quarter worth $80,154,000. Dimensional Fund Advisors LP increased its stake in PHINIA by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock worth $51,869,000 after purchasing an additional 215,150 shares during the period. American Century Companies Inc. increased its stake 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 purchasing an additional 251,650 shares during the period. Finally, LSV Asset Management increased its stake in PHINIA by 0.7% in the second quarter. LSV Asset Management now owns 780,569 shares of the company’s stock worth $30,723,000 after purchasing an additional 5,792 shares during the period. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PHIN. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research report on Wednesday, September 25th. 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 on the stock.

PHINIA Price Performance

PHIN opened at $55.24 on Thursday. PHINIA Inc. has a 12-month low of $25.19 and a 12-month high of $57.23. 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 business’s fifty day simple moving average is $48.23 and its 200-day simple moving average is $45.37. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 23.71 and a beta of 0.86.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share 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 company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $829.82 million. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Announces Dividend

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

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.