Victory Capital Management Inc. Buys 1,411 Shares of PHINIA Inc. (NYSE:PHIN)

Victory Capital Management Inc. boosted its stake in shares of PHINIA Inc. (NYSE:PHIN) by 17.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,729 shares of the company’s stock after purchasing an additional 1,411 shares during the quarter. Victory Capital Management Inc.’s holdings in PHINIA were worth $295,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PHIN. Vanguard Group Inc. bought a new stake in PHINIA during the third quarter worth approximately $142,304,000. Cooper Creek Partners Management LLC acquired a new position in shares of PHINIA during the third quarter worth approximately $56,398,000. Harris Associates L P acquired a new position in shares of PHINIA during the third quarter worth approximately $53,654,000. Pacer Advisors Inc. lifted its holdings in shares of PHINIA by 58.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,350,167 shares of the company’s stock worth $71,187,000 after buying an additional 865,016 shares during the last quarter. Finally, LSV Asset Management acquired a new position in shares of PHINIA during the third quarter worth approximately $19,461,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Price Performance

Shares of PHIN stock opened at $45.35 on Friday. The stock has a 50 day moving average of $40.02 and a 200-day moving average of $33.36. The company has a current ratio of 1.71, a quick ratio of 1.27 and a debt-to-equity ratio of 0.38. PHINIA Inc. has a 12 month low of $23.46 and a 12 month high of $46.08.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, April 25th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34. The business had revenue of $863.00 million during the quarter, compared to analyst estimates of $800.00 million. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. The firm’s revenue was up 3.4% compared to the same quarter last year. Research analysts predict that PHINIA Inc. will post 4.05 EPS for the current year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley assumed coverage on PHINIA in a report on Monday, March 11th. They set an “overweight” rating and a $50.00 price target for the company.

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.