Hancock Whitney Corp Increases Holdings in PHINIA Inc. (NYSE:PHIN)

Hancock Whitney Corp boosted its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 122.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,088 shares of the company's stock after purchasing an additional 30,818 shares during the period. Hancock Whitney Corp owned approximately 0.13% of PHINIA worth $2,582,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PHIN. Pacer Advisors Inc. purchased a new stake in shares of PHINIA during the third quarter valued at approximately $80,154,000. Jacobs Levy Equity Management Inc. boosted its position in PHINIA by 3,027.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company's stock valued at $16,839,000 after buying an additional 424,168 shares during the period. Great Lakes Advisors LLC grew its holdings in PHINIA by 1,537.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company's stock worth $13,328,000 after acquiring an additional 317,935 shares during the last quarter. American Century Companies Inc. increased its position in shares of PHINIA by 33.2% in the second quarter. American Century Companies Inc. now owns 1,009,106 shares of the company's stock valued at $39,718,000 after acquiring an additional 251,650 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of PHINIA during the third quarter valued at about $10,504,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Michael Coetzee sold 900 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the sale, the vice president now owns 29,540 shares of the company's stock, valued at $1,409,353.40. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley cut PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 target price on the stock. in a research note on Wednesday, September 25th. UBS Group started coverage on PHINIA in a research report on Wednesday, September 4th. They issued a "buy" rating and a $55.00 price objective on the stock.

PHINIA Trading Down 1.3 %

PHINIA stock traded down $0.74 during mid-day trading on Tuesday, reaching $55.63. 295,266 shares of the company traded hands, compared to its average volume of 638,099. 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 52-week low of $25.19 and a 52-week high of $57.23. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 23.88 and a beta of 0.86. The firm's 50 day moving average price is $48.07 and its 200 day moving average price is $45.29.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.38. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The company had revenue of $839.00 million for the quarter, compared to analysts' expectations of $829.82 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. PHINIA's quarterly revenue was down 6.4% on a year-over-year basis. On average, analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Monday, November 25th. PHINIA's dividend payout ratio is currently 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.