Empowered Funds LLC Purchases Shares of 228,196 PHINIA Inc. (NYSE:PHIN)

Empowered Funds LLC bought a new stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 228,196 shares of the company's stock, valued at approximately $10,504,000. Empowered Funds LLC owned 0.54% of PHINIA at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 acquiring an additional 102,769 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of PHINIA by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company's stock valued at $51,869,000 after purchasing an additional 215,150 shares in the last quarter. American Century Companies Inc. increased its position in shares of PHINIA by 33.2% during the second quarter. American Century Companies Inc. now owns 1,009,106 shares of the company's stock valued at $39,718,000 after buying an additional 251,650 shares during the period. LSV Asset Management raised 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 buying an additional 5,792 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in PHINIA by 12.0% in the second quarter. Bank of New York Mellon Corp now owns 532,759 shares of the company's stock worth $20,969,000 after buying an additional 57,068 shares during the period. Hedge funds and other institutional investors own 90.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PHIN shares. Morgan Stanley lowered 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 shares of PHINIA in a report on Wednesday, September 4th. They set a "buy" rating and a $55.00 price target on the stock.

Insider Activity

In related news, VP Michael Coetzee sold 900 shares of the business'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 directly owns 29,540 shares in the company, valued at approximately $1,409,353.40. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.

PHINIA Stock Performance

PHINIA stock traded up $0.27 during midday trading on Friday, reaching $52.37. 414,120 shares of the company traded hands, compared to its average volume of 642,833. 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 Inc. has a 12 month low of $25.10 and a 12 month high of $53.72. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 22.48 and a beta of 0.86. The business has a 50 day moving average of $47.08 and a two-hundred day moving average of $44.76.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.38. The firm had revenue of $839.00 million for the quarter, compared to analysts' expectations of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The company's revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. As a group, research analysts predict that PHINIA Inc. will post 3.27 earnings per share for the current year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. PHINIA's dividend payout ratio is currently 42.92%.

About PHINIA

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.