American Century Companies Inc. Grows Stock Position in PHINIA Inc. (NYSE:PHIN)

American Century Companies Inc. lifted its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,414,155 shares of the company's stock after buying an additional 110,931 shares during the period. American Century Companies Inc. owned about 3.36% of PHINIA worth $68,120,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Smartleaf Asset Management LLC grew its holdings in 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 during the period. KBC Group NV grew its stake in shares of PHINIA by 45.8% during the 4th quarter. KBC Group NV now owns 2,180 shares of the company's stock worth $105,000 after purchasing an additional 685 shares during the period. AlphaQuest LLC purchased a new position in shares of PHINIA in the 4th quarter valued at about $173,000. State of Michigan Retirement System acquired a new stake in shares of PHINIA in the fourth quarter valued at about $203,000. Finally, Paloma Partners Management Co purchased a new stake in PHINIA during the third quarter worth about $258,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PHIN shares. Northland Securities started coverage on shares of PHINIA in a research report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price target for the company. CL King began coverage on PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 price objective for the company. Northland Capmk raised PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Finally, UBS Group raised their price target on PHINIA from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $55.50.

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PHINIA Price Performance

PHIN stock traded down $1.15 on Friday, reaching $43.11. The company had a trading volume of 331,027 shares, compared to its average volume of 608,840. The company's fifty day moving average is $47.92 and its 200 day moving average is $48.68. The company has a market cap of $1.76 billion, a P/E ratio of 24.64 and a beta of 1.38. 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 Inc. has a 1 year low of $36.10 and a 1 year high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $833.00 million during the quarter, compared to analysts' expectations of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. On average, research analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, February 28th. This is an increase from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.50%. PHINIA's payout ratio is 61.71%.

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.