PHINIA Inc. (NYSE:PHIN) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 227,742 shares of the company’s stock after purchasing an additional 2,422 shares during the quarter. Principal Financial Group Inc.’s holdings in PHINIA were worth $10,483,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in PHINIA by 78.4% during the 1st quarter. US Bancorp DE now owns 38,110 shares of the company’s stock worth $1,465,000 after purchasing an additional 16,750 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of PHINIA by 147.0% during 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 acquiring an additional 21,731 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of PHINIA by 157.3% during the 2nd quarter. SG Americas Securities LLC now owns 100,845 shares of the company’s stock valued at $3,969,000 after acquiring an additional 61,650 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of PHINIA by 3,027.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock valued at $16,839,000 after acquiring an additional 424,168 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of PHINIA during the 1st quarter valued at about $982,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Trading Up 0.5 %

NYSE PHIN opened at $52.37 on Monday. The firm’s 50-day moving average is $47.08 and its two-hundred day moving average is $44.79. PHINIA Inc. has a 12 month low of $25.10 and a 12 month high of $53.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. The stock has a market capitalization of $2.20 billion, a P/E ratio of 22.48 and a beta of 0.86.

PHINIA (NYSE:PHIN) last posted 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 company had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $829.82 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. PHINIA’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. PHINIA’s payout ratio is currently 42.92%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PHIN shares. UBS Group started coverage on shares of PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target on the stock. Morgan Stanley cut shares of 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.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the sale, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

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.