51,937 Shares in PHINIA Inc. (NYSE:PHIN) Acquired by Trexquant Investment LP

Trexquant Investment LP bought a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 51,937 shares of the company's stock, valued at approximately $2,502,000. Trexquant Investment LP owned 0.12% of PHINIA as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quantinno Capital Management LP boosted its holdings in PHINIA by 2.4% in the 3rd quarter. Quantinno Capital Management LP now owns 14,637 shares of the company's stock worth $674,000 after buying an additional 345 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after acquiring an additional 418 shares in the last quarter. KBC Group NV boosted its holdings in shares of PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock worth $105,000 after acquiring an additional 685 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of PHINIA by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 228,584 shares of the company's stock worth $11,011,000 after acquiring an additional 842 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of PHINIA by 0.3% in the fourth quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company's stock valued at $27,054,000 after purchasing an additional 1,603 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

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PHINIA Price Performance

PHINIA stock traded up $0.38 during mid-day trading on Friday, hitting $38.38. 576,613 shares of the company traded hands, compared to its average volume of 610,348. The stock has a fifty day moving average price of $45.37 and a 200-day moving average price of $48.02. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 21.93 and a beta of 1.56. PHINIA Inc. has a one year low of $36.10 and a one year high of $57.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $833.00 million during the quarter, compared to analysts' expectations of $811.94 million. On average, equities analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.27 dividend. This is an increase from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a yield of 2.81%. PHINIA's payout ratio is presently 61.71%.

Analysts Set New Price Targets

Several research analysts have commented on PHIN shares. Northland Securities began coverage on PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price for the company. Bank of America initiated coverage on shares of PHINIA in a research report on Thursday. They issued a "buy" rating and a $53.00 price objective for the company. UBS Group reaffirmed a "neutral" rating and set a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a research note on Thursday. CL King began coverage on shares of PHINIA in a report on Monday, March 24th. They issued a "buy" rating and a $54.00 price target for the company. Finally, Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $52.60.

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.