11,442 Shares in PHINIA Inc. (NYSE:PHIN) Acquired by Tidal Investments LLC

Tidal Investments LLC acquired a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,442 shares of the company's stock, valued at approximately $527,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ABS Direct Equity Fund LLC raised its holdings in shares of PHINIA by 12,400.0% during the third quarter. ABS Direct Equity Fund LLC now owns 50,000 shares of the company's stock valued at $2,302,000 after acquiring an additional 49,600 shares during the last quarter. Barclays PLC lifted its holdings in PHINIA by 336.2% in the 3rd quarter. Barclays PLC now owns 72,805 shares of the company's stock valued at $3,351,000 after purchasing an additional 56,114 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in PHINIA by 352.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 38,474 shares of the company's stock worth $1,771,000 after purchasing an additional 29,977 shares during the last quarter. Jane Street Group LLC boosted its stake in PHINIA by 297.0% during the 3rd quarter. Jane Street Group LLC now owns 24,516 shares of the company's stock worth $1,128,000 after purchasing an additional 18,341 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of PHINIA by 1.2% during the third quarter. Wellington Management Group LLP now owns 333,395 shares of the company's stock worth $15,346,000 after buying an additional 3,804 shares in the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PHIN. Morgan Stanley cut PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 target price on the stock. in a report on Wednesday, September 25th. UBS Group started coverage on PHINIA in a report on Wednesday, September 4th. They issued a "buy" rating and a $55.00 target price for the company.

PHINIA Stock Performance

PHIN traded up $0.53 on Monday, reaching $47.63. The company had a trading volume of 517,927 shares, compared to its average volume of 641,603. The stock has a 50-day moving average price of $50.42 and a 200-day moving average price of $46.43. The stock has a market capitalization of $2.00 billion, a PE ratio of 20.44 and a beta of 1.10. PHINIA Inc. has a 1 year low of $27.86 and a 1 year high of $57.23. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58.

PHINIA (NYSE:PHIN - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating 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 business had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company's revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, research analysts forecast that PHINIA Inc. will post 3.44 EPS for the current fiscal year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA's dividend payout ratio (DPR) is 42.92%.

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.