HITE Hedge Asset Management LLC Grows Holdings in PHINIA Inc. (NYSE:PHIN)

HITE Hedge Asset Management LLC lifted its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 31.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,279 shares of the company's stock after purchasing an additional 22,022 shares during the period. HITE Hedge Asset Management LLC owned approximately 0.22% of PHINIA worth $4,397,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PHIN. Jane Street Group LLC raised its stake in shares of PHINIA by 297.0% during the 3rd quarter. Jane Street Group LLC now owns 24,516 shares of the company's stock worth $1,128,000 after buying an additional 18,341 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of PHINIA by 352.8% in the third quarter. Public Employees Retirement System of Ohio now owns 38,474 shares of the company's stock valued at $1,771,000 after purchasing an additional 29,977 shares in the last quarter. Barclays PLC grew its position in shares of PHINIA by 336.2% in the third quarter. Barclays PLC now owns 72,805 shares of the company's stock valued at $3,351,000 after purchasing an additional 56,114 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of PHINIA during the 3rd quarter worth approximately $527,000. Finally, Principal Financial Group Inc. lifted its stake in PHINIA by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 227,742 shares of the company's stock valued at $10,483,000 after buying an additional 2,422 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America initiated coverage on PHINIA in a report on Thursday, April 10th. They issued a "buy" rating and a $53.00 price target for the company. Northland Securities started 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. CL King began coverage on shares of PHINIA in a research report on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective for the company. UBS Group restated 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. Finally, Northland Capmk raised PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. Two research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $52.60.

PHINIA Trading Down 1.1 %

Shares of PHIN traded down $0.44 during trading hours on Monday, hitting $40.76. The stock had a trading volume of 325,066 shares, compared to its average volume of 610,620. The company's fifty day simple moving average is $44.24 and its 200 day simple moving average is $47.80. PHINIA Inc. has a 12-month low of $36.25 and a 12-month 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. The firm has a market cap of $1.62 billion, a P/E ratio of 23.29 and a beta of 1.56.

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

PHINIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from PHINIA's previous quarterly dividend of $0.25. PHINIA's dividend payout ratio (DPR) is currently 61.71%.

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.