Federated Hermes Inc. Boosts Stock Position in PHINIA Inc. (NYSE:PHIN)

Federated Hermes Inc. grew its position in PHINIA Inc. (NYSE:PHIN) by 409.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,545 shares of the company’s stock after buying an additional 34,993 shares during the period. Federated Hermes Inc.’s holdings in PHINIA were worth $1,714,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in PHINIA by 17.0% in the fourth quarter. Victory Capital Management Inc. now owns 9,729 shares of the company’s stock worth $295,000 after purchasing an additional 1,411 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of PHINIA by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 337,218 shares of the company’s stock worth $10,214,000 after purchasing an additional 14,289 shares in the last quarter. Jump Financial LLC grew its stake in PHINIA by 38.8% during the 4th quarter. Jump Financial LLC now owns 11,953 shares of the company’s stock worth $362,000 after buying an additional 3,342 shares during the last quarter. Janney Montgomery Scott LLC increased its position in PHINIA by 8.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 26,497 shares of the company’s stock valued at $803,000 after buying an additional 2,026 shares in the last quarter. Finally, Norges Bank purchased a new stake in PHINIA in the fourth quarter valued at about $16,896,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Insider Buying and Selling at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the sale, the vice president now owns 29,540 shares in the company, valued at $1,409,353.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on shares of PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 target price on the stock.

PHINIA Stock Performance

Shares of PHIN opened at $50.02 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85. The stock has a 50-day moving average of $45.37 and a two-hundred day moving average of $41.95. The stock has a market cap of $2.18 billion, a P/E ratio of 14.31 and a beta of 0.86. PHINIA Inc. has a one year low of $23.46 and a one year high of $52.19.

PHINIA (NYSE:PHIN) last released its earnings results on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27). The firm had revenue of $868.00 million for the quarter, compared to analyst estimates of $889.00 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.61 EPS. As a group, research analysts predict that PHINIA Inc. will post 3.37 EPS for the current year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%.

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.