Quantinno Capital Management LP Grows Stock Holdings in PHINIA Inc. (NYSE:PHIN)

Quantinno Capital Management LP lifted its position in shares of PHINIA Inc. (NYSE:PHIN) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,637 shares of the company’s stock after purchasing an additional 345 shares during the period. Quantinno Capital Management LP’s holdings in PHINIA were worth $674,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its position in shares of PHINIA by 10.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company’s stock worth $46,794,000 after purchasing an additional 95,870 shares during the last quarter. HITE Hedge Asset Management LLC lifted its position in PHINIA by 140.6% in the third quarter. HITE Hedge Asset Management LLC now owns 69,257 shares of the company’s stock valued at $3,188,000 after acquiring an additional 40,468 shares during the last quarter. Atom Investors LP lifted its position in PHINIA by 71.6% in the third quarter. Atom Investors LP now owns 142,612 shares of the company’s stock valued at $6,564,000 after acquiring an additional 59,515 shares during the last quarter. Paloma Partners Management Co purchased a new stake in PHINIA in the third quarter valued at $258,000. Finally, Verition Fund Management LLC purchased a new stake in PHINIA in the third quarter valued at $301,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PHIN shares. Morgan Stanley cut shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a research report on Wednesday, September 25th. UBS Group started coverage on shares of PHINIA in a research report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target for the company.

PHINIA Price Performance

Shares of NYSE:PHIN opened at $52.67 on Friday. The company has a 50-day simple moving average of $49.99 and a 200-day simple moving average of $46.24. PHINIA Inc. has a one year low of $27.71 and a one year high of $57.23. 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 market capitalization of $2.22 billion, a price-to-earnings ratio of 22.61 and a beta of 1.10.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.38. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The business had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $829.82 million. During the same period in the prior year, the company earned $0.53 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. On average, analysts predict that PHINIA Inc. will post 3.44 EPS for the current 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 issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. PHINIA’s payout ratio is 42.92%.

PHINIA 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.