Public Employees Retirement System of Ohio Raises Stake in PHINIA Inc. (NYSE:PHIN)

Public Employees Retirement System of Ohio boosted its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 352.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,474 shares of the company's stock after acquiring an additional 29,977 shares during the quarter. Public Employees Retirement System of Ohio owned 0.09% of PHINIA worth $1,771,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Jane Street Group LLC raised its position in shares of PHINIA by 297.0% in the third quarter. Jane Street Group LLC now owns 24,516 shares of the company's stock worth $1,128,000 after acquiring an additional 18,341 shares during the period. Wellington Management Group LLP raised its holdings in 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 during the period. Systematic Financial Management LP purchased a new position in PHINIA during the third quarter worth approximately $599,000. Quantinno Capital Management LP boosted its position in PHINIA by 2.4% during the third quarter. Quantinno Capital Management LP now owns 14,637 shares of the company's stock worth $674,000 after purchasing an additional 345 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in 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 purchasing an additional 95,870 shares during the period. 90.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

PHINIA Price Performance

PHIN stock traded down $0.69 during trading on Thursday, hitting $47.51. The stock had a trading volume of 741,988 shares, compared to its average volume of 628,109. PHINIA Inc. has a twelve month low of $27.86 and a twelve month high of $57.23. The company's 50-day moving average price is $50.39 and its two-hundred day moving average price is $46.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. The stock has a market capitalization of $2.00 billion, a P/E ratio of 20.39 and a beta of 1.10.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) 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 firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. During the same period in the previous year, the company posted $0.53 earnings per share. The business's revenue was down 6.4% on a year-over-year basis. As a group, research analysts predict that PHINIA Inc. will post 3.44 EPS for the current fiscal 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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA's dividend payout ratio (DPR) is 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.