Empowered Funds LLC Invests $10.50 Million in PHINIA Inc. (NYSE:PHIN)

Empowered Funds LLC acquired a new position in PHINIA Inc. (NYSE:PHIN) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 228,196 shares of the company’s stock, valued at approximately $10,504,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in PHINIA by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $65,000 after acquiring an additional 271 shares during the last quarter. Old North State Wealth Management LLC grew its holdings in PHINIA by 4.9% in the third quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company’s stock valued at $442,000 after purchasing an additional 451 shares during the period. KBC Group NV increased its stake in PHINIA by 49.4% during the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after buying an additional 494 shares in the last quarter. CHICAGO TRUST Co NA raised its holdings in PHINIA by 8.1% in the 3rd quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company’s stock valued at $439,000 after acquiring an additional 713 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in PHINIA by 15.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company’s stock worth $343,000 after purchasing an additional 1,169 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other PHINIA news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the completion of the sale, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.

PHINIA Stock Performance

Shares of NYSE PHIN opened at $52.37 on Friday. The company has a market cap of $2.20 billion, a PE ratio of 22.48 and a beta of 0.86. 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 stock has a 50 day simple moving average of $47.08 and a 200-day simple moving average of $44.72. PHINIA Inc. has a 12-month low of $25.10 and a 12-month high of $53.72.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $829.82 million. During the same period in the prior year, the firm posted $0.53 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts forecast that PHINIA Inc. will post 3.27 EPS for the current year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Monday, November 25th. PHINIA’s payout ratio is presently 42.92%.

Analyst Ratings Changes

PHIN has been the topic of a number of analyst reports. Morgan Stanley lowered PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research report on Wednesday, September 25th. UBS Group assumed coverage on PHINIA in a research report on Wednesday, September 4th. They issued 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.