Victory Capital Management Inc. Purchases 40,416 Shares of PHINIA Inc. (NYSE:PHIN)

Victory Capital Management Inc. increased its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 27.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 187,294 shares of the company's stock after acquiring an additional 40,416 shares during the period. Victory Capital Management Inc. owned approximately 0.45% of PHINIA worth $8,621,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PHIN. Price T Rowe Associates Inc. MD increased its position 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 acquiring an additional 21,731 shares in the last quarter. SG Americas Securities LLC raised its position in PHINIA by 157.3% in the second quarter. SG Americas Securities LLC now owns 100,845 shares of the company's stock valued at $3,969,000 after purchasing an additional 61,650 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake 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 in the last quarter. Swedbank AB purchased a new stake in shares of PHINIA in the first quarter worth about $982,000. Finally, Vanguard Group Inc. grew its stake in shares of PHINIA by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company's stock valued at $207,848,000 after buying an additional 102,769 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group began 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. Morgan Stanley cut 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 Stock Up 1.6 %

Shares of NYSE PHIN traded up $0.87 during mid-day trading on Friday, reaching $55.06. The company had a trading volume of 454,955 shares, compared to its average volume of 638,906. The stock's 50 day moving average is $47.68 and its 200-day moving average is $45.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. PHINIA Inc. has a twelve month low of $25.19 and a twelve month high of $55.54. The stock has a market capitalization of $2.32 billion, a PE ratio of 23.63 and a beta of 0.86.

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

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be given a dividend of $0.25 per share. 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 currently 42.92%.

Insider Activity at PHINIA

In related news, VP Michael Coetzee sold 900 shares of the 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 owns 29,540 shares of the company's stock, valued at $1,409,353.40. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.50% of the company's stock.

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.