Hancock Whitney Corp Increases Stock Position in PHINIA Inc. (NYSE:PHIN)

Hancock Whitney Corp grew its position in shares of PHINIA Inc. (NYSE:PHIN) by 122.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,088 shares of the company’s stock after purchasing an additional 30,818 shares during the quarter. Hancock Whitney Corp owned approximately 0.13% of PHINIA worth $2,582,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in PHINIA by 147.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,512 shares of the company’s stock valued at $1,404,000 after purchasing an additional 21,731 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of 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 buying an additional 61,650 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of PHINIA by 3,027.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock valued at $16,839,000 after buying an additional 424,168 shares during the last quarter. Swedbank AB acquired a new stake in shares of PHINIA during the first quarter worth about $982,000. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of PHINIA during the third quarter worth about $1,073,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Wednesday, September 25th. UBS Group began coverage on PHINIA in a research note on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target for the company.

PHINIA Trading Up 2.9 %

Shares of PHINIA stock opened at $56.39 on Tuesday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 24.20 and a beta of 0.86. PHINIA Inc. has a 52-week low of $25.19 and a 52-week high of $57.23. The company’s 50-day simple moving average is $48.07 and its 200-day simple moving average is $45.29. 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) last announced its quarterly earnings data 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. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. PHINIA’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, equities research analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Monday, November 25th. PHINIA’s dividend payout ratio is currently 42.92%.

Insider Transactions at PHINIA

In other 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 transaction, the vice president now directly owns 29,540 shares of the company’s stock, valued at $1,409,353.40. This trade represents a 2.96 % decrease in their position. The sale 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.

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.