QRG Capital Management Inc. Has $366,000 Holdings in PHINIA Inc. $PHIN

QRG Capital Management Inc. lessened its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 12.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,217 shares of the company’s stock after selling 1,201 shares during the period. QRG Capital Management Inc.’s holdings in PHINIA were worth $366,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CX Institutional acquired a new position in shares of PHINIA during the 1st quarter worth approximately $31,000. Brooklyn Investment Group grew its position in shares of PHINIA by 853.0% during the 1st quarter. Brooklyn Investment Group now owns 1,582 shares of the company’s stock worth $67,000 after purchasing an additional 1,416 shares in the last quarter. One Wealth Advisors LLC acquired a new position in shares of PHINIA during the 1st quarter worth approximately $210,000. Advisors Asset Management Inc. acquired a new position in shares of PHINIA during the 1st quarter worth approximately $220,000. Finally, Eisler Capital Management Ltd. acquired a new stake in shares of PHINIA during the 1st quarter worth approximately $223,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Price Performance

Shares of NYSE PHIN opened at $51.66 on Friday. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $59.88. The firm has a fifty day simple moving average of $56.45 and a 200 day simple moving average of $48.27. The company has a market capitalization of $2.01 billion, a PE ratio of 19.95, a P/E/G ratio of 0.46 and a beta of 1.48. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.59.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.28. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The business had revenue of $890.00 million during the quarter, compared to the consensus estimate of $836.51 million. During the same quarter last year, the firm earned $0.88 earnings per share. PHINIA’s quarterly revenue was up 2.5% on a year-over-year basis. PHINIA has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, August 22nd. PHINIA’s dividend payout ratio (DPR) is presently 41.70%.

Wall Street Analysts Forecast Growth

PHIN has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of PHINIA in a research report on Wednesday. Morgan Stanley increased their price target on shares of PHINIA from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. UBS Group increased their price target on shares of PHINIA from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Saturday, July 26th. Finally, Bank of America raised their target price on shares of PHINIA from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, PHINIA has an average rating of “Moderate Buy” and a consensus target price of $55.83.

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.