Great Lakes Advisors LLC Sells 7,287 Shares of PHINIA Inc. (NYSE:PHIN)

Great Lakes Advisors LLC reduced its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 169,891 shares of the company's stock after selling 7,287 shares during the period. Great Lakes Advisors LLC owned about 0.40% of PHINIA worth $8,184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PHIN. Pacer Advisors Inc. bought a new position in shares of PHINIA during the third quarter valued at $80,154,000. Empowered Funds LLC bought a new position in PHINIA during the 3rd quarter valued at about $10,504,000. Foundry Partners LLC purchased a new stake in shares of PHINIA during the 3rd quarter valued at about $7,911,000. Jacobs Levy Equity Management Inc. grew its stake in shares of PHINIA by 10.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company's stock worth $46,794,000 after acquiring an additional 95,870 shares during the period. Finally, Atom Investors LP raised its holdings in shares of PHINIA by 71.6% during the third quarter. Atom Investors LP now owns 142,612 shares of the company's stock valued at $6,564,000 after purchasing an additional 59,515 shares during the last quarter. 90.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PHIN. Northland Securities initiated coverage on shares of PHINIA in a report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price on the stock. Northland Capmk upgraded PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. Finally, UBS Group upped their price objective on PHINIA from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, January 16th.

Remove Ads

PHINIA Stock Down 3.8 %

Shares of PHIN stock opened at $40.55 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a 12 month low of $35.84 and a 12 month high of $57.23. The stock has a market cap of $1.66 billion, a P/E ratio of 23.17 and a beta of 1.38. The company has a 50 day simple moving average of $49.15 and a two-hundred day simple moving average of $48.97.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.71 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 return on equity of 10.12% and a net margin of 2.32%. On average, research analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.27 per share. This is a boost from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, February 28th. PHINIA's payout ratio is presently 61.71%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.