First Trust Advisors LP Has $89.93 Million Holdings in PHINIA Inc. (NYSE:PHIN)

First Trust Advisors LP raised its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 32.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,866,894 shares of the company's stock after purchasing an additional 458,650 shares during the quarter. First Trust Advisors LP owned 4.44% of PHINIA worth $89,928,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC grew its holdings in shares of PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after acquiring an additional 418 shares in the last quarter. KBC Group NV lifted its holdings in shares of PHINIA by 45.8% during the 4th quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after buying an additional 685 shares during the last quarter. AlphaQuest LLC acquired a new position in PHINIA in the fourth quarter worth approximately $173,000. State of Michigan Retirement System acquired a new stake in PHINIA in the fourth quarter valued at approximately $203,000. Finally, Optimize Financial Inc bought a new position in shares of PHINIA during the 4th quarter valued at $206,000. Hedge funds and other institutional investors own 90.94% of the company's stock.

PHINIA Stock Performance

Shares of NYSE PHIN traded down $3.16 during mid-day trading on Friday, hitting $40.85. The company had a trading volume of 873,136 shares, compared to its average volume of 610,349. PHINIA Inc. has a 12 month low of $36.25 and a 12 month high of $57.23. The firm has a market cap of $1.63 billion, a P/E ratio of 23.34 and a beta of 1.56. The business's 50-day simple moving average is $43.75 and its 200-day simple moving average is $47.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.06). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. As a group, analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.27 dividend. This is a positive change from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Friday, February 28th. PHINIA's dividend payout ratio is currently 61.71%.

Analyst Ratings Changes

PHIN has been the topic of several recent research reports. Northland Securities initiated coverage on PHINIA in a report on Thursday, January 30th. They set an "outperform" rating and a $61.00 target price on the stock. UBS Group reaffirmed a "neutral" rating and set a $45.00 target price (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. CL King assumed coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective for the company. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. Finally, BNP Paribas cut shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a report on Wednesday. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.50.

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.