Federated Hermes Inc. Sells 29,689 Shares of PHINIA Inc. (NYSE:PHIN)

Federated Hermes Inc. trimmed its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 30.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,811 shares of the company's stock after selling 29,689 shares during the quarter. Federated Hermes Inc. owned 0.17% of PHINIA worth $2,920,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PHIN. Millennium Management LLC raised its holdings in shares of PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after purchasing an additional 535,222 shares during the last quarter. First Trust Advisors LP boosted its position in shares of PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after acquiring an additional 458,650 shares during the period. Pacer Advisors Inc. bought a new position in shares of PHINIA in the first quarter valued at approximately $14,880,000. Voss Capital LP boosted its position in shares of PHINIA by 31.8% in the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after acquiring an additional 342,081 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after purchasing an additional 253,345 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Insider Activity at PHINIA

In other PHINIA news, Director Meggan M. Walsh bought 1,400 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $42.71 per share, for a total transaction of $59,794.00. Following the acquisition, the director owned 7,492 shares in the company, valued at approximately $319,983.32. This represents a 22.98% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

PHIN has been the topic of a number of recent analyst reports. Bank of America raised their target price on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. BNP Paribas downgraded shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price on the stock. in a research note on Wednesday, April 23rd. UBS Group reissued a "neutral" rating and set a $55.00 price target (up from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, Morgan Stanley decreased their price target on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, PHINIA has an average rating of "Moderate Buy" and a consensus target price of $52.83.

PHINIA Trading Up 2.3%

Shares of NYSE PHIN traded up $1.17 during mid-day trading on Friday, hitting $52.32. The stock had a trading volume of 144,478 shares, compared to its average volume of 516,779. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $57.23. The business has a 50 day moving average price of $46.55 and a two-hundred day moving average price of $45.43. The firm has a market cap of $2.04 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 0.47 and a beta of 1.51.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.28. The business had revenue of $890.00 million for the quarter, compared to analysts' expectations of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, equities analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, August 22nd. PHINIA's payout ratio is 41.70%.

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.