PHINIA Inc. (NYSE:PHIN) Stake Boosted by Jane Street Group LLC

Jane Street Group LLC grew its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 297.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 24,516 shares of the company's stock after purchasing an additional 18,341 shares during the quarter. Jane Street Group LLC owned 0.06% of PHINIA worth $1,128,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of PHINIA by 1.2% in the 3rd quarter. Wellington Management Group LLP now owns 333,395 shares of the company's stock worth $15,346,000 after purchasing an additional 3,804 shares in the last quarter. Systematic Financial Management LP acquired a new position in PHINIA in the third quarter worth approximately $599,000. Quantinno Capital Management LP increased its holdings in shares of PHINIA by 2.4% in the third quarter. Quantinno Capital Management LP now owns 14,637 shares of the company's stock valued at $674,000 after buying an additional 345 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of PHINIA by 10.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company's stock valued at $46,794,000 after buying an additional 95,870 shares in the last quarter. Finally, 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 last quarter. Institutional investors own 90.94% of the company's stock.

PHINIA Trading Down 1.6 %

Shares of NYSE:PHIN traded down $0.75 during mid-day trading on Monday, hitting $47.48. The stock had a trading volume of 218,771 shares, compared to its average volume of 635,028. PHINIA Inc. has a 12-month low of $27.86 and a 12-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 company has a market cap of $2.00 billion, a PE ratio of 20.38 and a beta of 1.10. The company's 50 day moving average is $50.66 and its 200-day moving average is $46.62.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.79 by $0.38. The business had revenue of $839.00 million during 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%. PHINIA's revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. On average, sell-side analysts predict that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were issued a $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%. PHINIA's dividend payout ratio is 42.92%.

Analyst Ratings Changes

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

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.