Pacer Advisors Inc. Buys Shares of 1,741,353 PHINIA Inc. (NYSE:PHIN)

Pacer Advisors Inc. acquired a new stake in shares of PHINIA Inc. (NYSE:PHIN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,741,353 shares of the company’s stock, valued at approximately $80,154,000.

A number of other institutional investors have also made changes to their positions in PHIN. Price T Rowe Associates Inc. MD lifted its position in PHINIA by 147.0% during the 1st 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 during the last quarter. SG Americas Securities LLC grew its holdings in PHINIA by 157.3% in the 2nd quarter. SG Americas Securities LLC now owns 100,845 shares of the company’s stock valued at $3,969,000 after buying an additional 61,650 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in PHINIA by 3,027.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock worth $16,839,000 after buying an additional 424,168 shares during the period. Swedbank AB bought a new position in PHINIA in the 1st quarter worth approximately $982,000. Finally, Vanguard Group Inc. lifted its holdings in shares of PHINIA by 1.9% during the first quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock worth $207,848,000 after buying an additional 102,769 shares during the last quarter. 90.94% of the stock is owned by institutional investors.

Insider Buying and Selling at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the completion of the sale, the vice president now owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PHIN. Morgan Stanley lowered shares of 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 initiated coverage on shares of PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective on the stock.

PHINIA Stock Performance

PHIN opened at $54.19 on Friday. The stock has a market cap of $2.28 billion, a PE ratio of 23.26 and a beta of 0.86. PHINIA Inc. has a 1 year low of $25.19 and a 1 year high of $54.55. The stock’s 50 day simple moving average is $47.68 and its 200-day simple moving average is $45.07. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58.

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

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.85%. The ex-dividend date is Monday, November 25th. PHINIA’s dividend payout ratio is 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.