Covalis Capital LLP Grows Holdings in PHINIA Inc. (NYSE:PHIN)

Covalis Capital LLP boosted its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 263,466 shares of the company's stock after purchasing an additional 12,106 shares during the period. PHINIA comprises 1.9% of Covalis Capital LLP's portfolio, making the stock its 21st largest position. Covalis Capital LLP owned 0.63% of PHINIA worth $12,691,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PHIN. Dimensional Fund Advisors LP grew its holdings in shares of PHINIA by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after purchasing an additional 253,345 shares during the last quarter. First Trust Advisors LP increased its position in PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock worth $89,928,000 after buying an additional 458,650 shares during the period. American Century Companies Inc. lifted its stake in PHINIA by 8.5% in the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock valued at $68,120,000 after buying an additional 110,931 shares during the last quarter. LSV Asset Management boosted its holdings in shares of PHINIA by 6.0% during the fourth quarter. LSV Asset Management now owns 832,236 shares of the company's stock valued at $40,089,000 after acquiring an additional 46,919 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of PHINIA by 0.3% during the fourth quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company's stock worth $27,054,000 after acquiring an additional 1,603 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Price Performance

NYSE:PHIN opened at $41.24 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The stock has a market cap of $1.64 billion, a P/E ratio of 23.56 and a beta of 1.56. The company has a fifty day moving average price of $44.40 and a 200 day moving average price of $47.80. PHINIA Inc. has a one year low of $36.25 and a one year high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm had revenue of $833.00 million during the quarter, compared to analyst estimates of $811.94 million. Analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The firm also recently disclosed 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.62%. This is an increase from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. PHINIA's dividend payout ratio (DPR) is presently 61.71%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PHIN shares. Bank of America started coverage on PHINIA in a research report on Thursday, April 10th. They set a "buy" rating and a $53.00 price target for the company. CL King started coverage on PHINIA in a research report on Monday, March 24th. They issued a "buy" rating and a $54.00 target price for the company. UBS Group reaffirmed a "neutral" rating and set a $45.00 price objective (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Northland Securities assumed coverage on PHINIA in a research note on Thursday, January 30th. They set an "outperform" rating and a $61.00 price target for the company. Finally, Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.60.

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.

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