Pacer Advisors Inc. Invests $80.15 Million in PHINIA Inc. (NYSE:PHIN)

Pacer Advisors Inc. bought a new stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,741,353 shares of the company's stock, valued at approximately $80,154,000. Pacer Advisors Inc. owned about 4.14% of PHINIA as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of PHINIA by 147.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,512 shares of the company's stock worth $1,404,000 after buying an additional 21,731 shares during the period. SG Americas Securities LLC increased its stake in PHINIA by 157.3% in the second quarter. SG Americas Securities LLC now owns 100,845 shares of the company's stock worth $3,969,000 after purchasing an additional 61,650 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of PHINIA by 3,027.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company's stock worth $16,839,000 after purchasing an additional 424,168 shares during the last quarter. Swedbank AB bought a new stake in shares of PHINIA during the first quarter worth $982,000. Finally, Vanguard Group Inc. boosted its stake in shares of PHINIA by 1.9% during the first quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company's stock valued at $207,848,000 after purchasing an additional 102,769 shares during the period. Hedge funds and other institutional investors own 90.94% of the company's stock.

Insiders Place Their Bets

In other PHINIA 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 value of $42,939.00. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

PHINIA Stock Up 1.6 %

Shares of PHIN traded up $0.87 during midday trading on Friday, reaching $55.06. 454,955 shares of the stock were exchanged, compared to its average volume of 638,906. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. The company's 50 day moving average is $47.68 and its two-hundred day moving average is $45.07. The company has a market capitalization of $2.32 billion, a P/E ratio of 23.63 and a beta of 0.86. PHINIA Inc. has a 52 week low of $25.19 and a 52 week high of $55.54.

PHINIA (NYSE:PHIN - Get Free Report) last issued its 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. 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 period in the prior year, the business earned $0.53 EPS. The firm's quarterly revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Announces Dividend

The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, November 25th. PHINIA's dividend payout ratio (DPR) is 42.92%.

Wall Street Analyst Weigh In

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

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.