Federated Hermes Inc. Has $2.92 Million Stock Position in PHINIA Inc. (NYSE:PHIN)

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

A number of other institutional investors have also modified their holdings of PHIN. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of PHINIA by 2.8% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 49,097 shares of the company's stock valued at $2,083,000 after buying an additional 1,315 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of PHINIA in the first quarter valued at about $14,880,000. Royce & Associates LP increased its stake in shares of PHINIA by 52.7% during the 1st quarter. Royce & Associates LP now owns 38,401 shares of the company's stock worth $1,629,000 after purchasing an additional 13,261 shares in the last quarter. One Wealth Advisors LLC acquired a new stake in PHINIA during the 1st quarter valued at $210,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in PHINIA by 173.9% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 53,894 shares of the company's stock valued at $2,287,000 after purchasing an additional 34,221 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Price Performance

Shares of NYSE PHIN traded up $0.42 during mid-day trading on Thursday, hitting $51.01. 409,927 shares of the stock were exchanged, compared to its average volume of 519,369. The stock's fifty day simple moving average is $46.40 and its two-hundred day simple moving average is $45.43. 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 twelve month low of $36.25 and a twelve month high of $57.23. The company has a market cap of $1.98 billion, a P/E ratio of 19.69, a PEG ratio of 0.47 and a beta of 1.51.

PHINIA (NYSE:PHIN - Get Free Report) last released its 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 firm had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

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

Insider Activity

In related news, Director Meggan M. Walsh acquired 1,400 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average price of $42.71 per share, with a total value of $59,794.00. Following the acquisition, the director owned 7,492 shares in the company, valued at $319,983.32. This represents a 22.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

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

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.