FORA Capital LLC Raises Stock Position in PHINIA Inc. (NYSE:PHIN)

FORA Capital LLC lifted its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 92.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,402 shares of the company's stock after acquiring an additional 10,302 shares during the quarter. FORA Capital LLC owned approximately 0.05% of PHINIA worth $985,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of PHINIA by 23.9% during the third quarter. GAMMA Investing LLC now owns 1,403 shares of the company's stock valued at $65,000 after purchasing an additional 271 shares in the last quarter. Old North State Wealth Management LLC boosted its stake in shares of PHINIA by 4.9% during the third quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company's stock valued at $442,000 after purchasing an additional 451 shares in the last quarter. KBC Group NV boosted its stake in shares of PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company's stock valued at $69,000 after purchasing an additional 494 shares in the last quarter. CHICAGO TRUST Co NA boosted its stake in shares of PHINIA by 8.1% during the third quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company's stock valued at $439,000 after purchasing an additional 713 shares in the last quarter. Finally, Long Road Investment Counsel LLC boosted its stake in shares of PHINIA by 10.3% during the second quarter. Long Road Investment Counsel LLC now owns 12,906 shares of the company's stock valued at $508,000 after purchasing an additional 1,200 shares in the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Up 1.7 %

PHIN traded up $0.94 during trading on Friday, hitting $56.19. The stock had a trading volume of 201,381 shares, compared to its average volume of 634,706. The company has a market capitalization of $2.36 billion, a PE ratio of 23.71 and a beta of 0.86. PHINIA Inc. has a twelve month low of $25.39 and a twelve month high of $57.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The stock has a 50 day simple moving average of $48.49 and a two-hundred day simple moving average of $45.51.

PHINIA (NYSE:PHIN - Get Free Report) last announced its 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 company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. PHINIA's revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. On average, research analysts predict that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 1.78%. PHINIA's dividend payout ratio (DPR) is 42.92%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PHIN. UBS Group began coverage on shares of PHINIA in a research note on Wednesday, September 4th. They set a "buy" rating and a $55.00 price objective on the stock. Morgan Stanley downgraded shares of PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 price objective on the stock. in a research note on Wednesday, September 25th.

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.