Public Employees Retirement System of Ohio Invests $509,000 in PHINIA Inc. (NYSE:PHIN)

Public Employees Retirement System of Ohio purchased a new stake in shares of PHINIA Inc. (NYSE:PHIN) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 19,005 shares of the company’s stock, valued at approximately $509,000.

A number of other large investors have also added to or reduced their stakes in PHIN. Oakworth Capital Inc. bought a new position in PHINIA during the 3rd quarter valued at $27,000. Whittier Trust Co. bought a new position in shares of PHINIA in the 3rd quarter worth about $29,000. Truvestments Capital LLC bought a new position in shares of PHINIA in the 3rd quarter worth about $35,000. Salem Investment Counselors Inc. bought a new position in shares of PHINIA in the 3rd quarter worth about $39,000. Finally, Fifth Third Bancorp bought a new position in shares of PHINIA in the 3rd quarter worth about $42,000. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Price Performance

PHINIA stock opened at $37.87 on Thursday. The firm’s 50-day moving average is $33.21 and its 200-day moving average is $29.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.25 and a current ratio of 1.68. PHINIA Inc. has a 1 year low of $23.46 and a 1 year high of $38.23.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The firm had revenue of $882.00 million during the quarter, compared to analyst estimates of $900.00 million. During the same period last year, the business earned $1.75 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. As a group, research analysts forecast that PHINIA Inc. will post 4.02 earnings per share for the current year.

PHINIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors 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 dividend yield of 2.64%.

Analyst Upgrades and Downgrades

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

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.