FORA Capital LLC Purchases 10,302 Shares of PHINIA Inc. (NYSE:PHIN)

FORA Capital LLC increased its position in PHINIA Inc. (NYSE:PHIN) by 92.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,402 shares of the company’s stock after buying an additional 10,302 shares during the period. FORA Capital LLC owned about 0.05% of PHINIA worth $985,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PHIN. GAMMA Investing LLC lifted its stake in PHINIA by 100.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after purchasing an additional 567 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in PHINIA during the second quarter valued at approximately $49,000. KBC Group NV grew its holdings in PHINIA by 49.4% during the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after buying an additional 494 shares in the last quarter. Rothschild Investment LLC bought a new stake in PHINIA in the 2nd quarter worth approximately $66,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of PHINIA during the 2nd quarter worth approximately $76,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of 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 target price for the company. in a report on Wednesday, September 25th. UBS Group initiated coverage on shares of PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price on the stock.

PHINIA Price Performance

Shares of PHINIA stock opened at $55.25 on Friday. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 23.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The stock has a 50 day moving average price of $48.37 and a 200-day moving average price of $45.44. PHINIA Inc. has a one year low of $25.19 and a one year high of $57.23.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.17 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 during the quarter, compared to analyst estimates of $829.82 million. During the same period in the previous year, the firm earned $0.53 earnings per share. PHINIA’s quarterly revenue was down 6.4% compared to the same quarter last year. Equities analysts expect that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 1.81%. PHINIA’s payout ratio 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.