Louisiana State Employees Retirement System Invests $709,000 in PHINIA Inc. (NYSE:PHIN)

Louisiana State Employees Retirement System bought a new position in shares of PHINIA Inc. (NYSE:PHIN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 23,400 shares of the company’s stock, valued at approximately $709,000. Louisiana State Employees Retirement System owned approximately 0.05% of PHINIA as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Oakworth Capital Inc. purchased a new stake in shares of PHINIA during the 3rd quarter worth about $27,000. Whittier Trust Co. purchased a new stake in shares of PHINIA during the 3rd quarter worth about $29,000. Financial Enhancement Group LLC boosted its stake in shares of PHINIA by 3.6% during the 4th quarter. Financial Enhancement Group LLC now owns 33,289 shares of the company’s stock worth $946,000 after acquiring an additional 1,149 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of PHINIA during the 3rd quarter worth about $35,000. Finally, Fifth Third Bancorp purchased a new stake in shares of PHINIA during the 3rd quarter worth about $42,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley began coverage on shares of PHINIA in a research note on Monday, March 11th. They issued an “overweight” rating and a $50.00 price target on the stock.

PHINIA Price Performance

Shares of PHINIA stock opened at $38.85 on Friday. PHINIA Inc. has a twelve month low of $23.46 and a twelve month high of $40.12. The firm’s 50-day moving average price is $36.70 and its 200 day moving average price is $31.02. The company has a quick ratio of 1.25, a current ratio of 1.71 and a debt-to-equity ratio of 0.38.

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

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a $0.25 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.57%.

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.