Jacobs Levy Equity Management Inc. Boosts Holdings in PHINIA Inc. (NYSE:PHIN)

Jacobs Levy Equity Management Inc. raised its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 10.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,016,602 shares of the company's stock after purchasing an additional 95,870 shares during the period. Jacobs Levy Equity Management Inc. owned 2.42% of PHINIA worth $46,794,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HITE Hedge Asset Management LLC lifted its position in shares of PHINIA by 140.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 69,257 shares of the company's stock valued at $3,188,000 after acquiring an additional 40,468 shares during the period. Atom Investors LP raised its holdings in PHINIA by 71.6% during the third quarter. Atom Investors LP now owns 142,612 shares of the company's stock worth $6,564,000 after buying an additional 59,515 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of PHINIA in the 3rd quarter worth $258,000. Verition Fund Management LLC bought a new position in PHINIA during the third quarter valued at about $301,000. Finally, FORA Capital LLC grew its position in PHINIA by 92.8% during the third quarter. FORA Capital LLC now owns 21,402 shares of the company's stock valued at $985,000 after buying an additional 10,302 shares during the period. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Price Performance

PHIN traded down $0.67 on Wednesday, reaching $54.62. The company had a trading volume of 109,118 shares, compared to its average volume of 631,121. PHINIA Inc. has a 52-week low of $26.08 and a 52-week 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 business has a 50 day simple moving average of $48.83 and a 200 day simple moving average of $45.78. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 23.73 and a beta of 1.10.

PHINIA (NYSE:PHIN - Get Free Report) 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 return on equity of 9.79% and a net margin of 3.10%. PHINIA's quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, sell-side analysts anticipate that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Dividend Announcement

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 paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. PHINIA's dividend payout ratio (DPR) is presently 42.92%.

Analysts Set New Price Targets

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

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.