UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 7,637 Shares of PHINIA Inc. (NYSE:PHIN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in PHINIA Inc. (NYSE:PHIN) by 9.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,429 shares of the company’s stock after selling 7,637 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of PHINIA worth $3,288,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new stake in shares of PHINIA during the 3rd quarter valued at $80,154,000. Great Lakes Advisors LLC boosted its stake in shares of PHINIA by 1,537.3% during the second quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock valued at $13,328,000 after purchasing an additional 317,935 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of PHINIA by 33.2% during the second quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock worth $39,718,000 after purchasing an additional 251,650 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of PHINIA during the third quarter worth about $10,504,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of PHINIA by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock valued at $51,869,000 after buying an additional 215,150 shares during the period. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on PHIN. Morgan Stanley downgraded 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 note on Wednesday, September 25th. UBS Group assumed coverage on PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 target price for the company.

PHINIA Price Performance

Shares of NYSE PHIN opened at $52.67 on Friday. The firm has a market capitalization of $2.22 billion, a P/E ratio of 22.61 and a beta of 1.10. The firm’s 50-day moving average price is $49.99 and its 200-day moving average price is $46.24. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a 1-year low of $27.71 and a 1-year high of $57.23.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share (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 firm had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $829.82 million. During the same period last year, the company earned $0.53 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. Equities research analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA’s payout ratio is 42.92%.

PHINIA Company 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.