KLP Kapitalforvaltning AS bought a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,000 shares of the company's stock, valued at approximately $771,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in PHINIA in the 3rd quarter valued at approximately $390,000. FMR LLC lifted its holdings in shares of PHINIA by 7.2% in the 3rd quarter. FMR LLC now owns 86,817 shares of the company's stock valued at $3,996,000 after buying an additional 5,828 shares during the period. MetLife Investment Management LLC boosted its stake in shares of PHINIA by 115.3% in the third quarter. MetLife Investment Management LLC now owns 24,790 shares of the company's stock valued at $1,141,000 after buying an additional 13,277 shares in the last quarter. Verition Fund Management LLC acquired a new position in PHINIA during the third quarter worth $301,000. Finally, Paloma Partners Management Co purchased a new position in PHINIA in the third quarter worth $258,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have issued reports on PHIN shares. UBS Group increased their target price on shares of PHINIA from $55.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, January 16th. CL King initiated coverage on 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 raised PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Finally, Northland Securities assumed coverage on PHINIA in a report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price on the stock. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $55.50.
Check Out Our Latest Report on PHINIA
PHINIA Stock Down 4.2 %
NYSE PHIN traded down $1.67 on Friday, reaching $38.03. The company had a trading volume of 592,472 shares, compared to its average volume of 609,136. The firm has a market capitalization of $1.55 billion, a PE ratio of 21.73 and a beta of 1.55. The firm has a 50-day moving average of $46.98 and a 200-day moving average of $48.52. PHINIA Inc. has a 1 year low of $36.10 and a 1 year high of $57.23. 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 issued its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $811.94 million. On average, equities research analysts anticipate 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. Shareholders of record on Friday, February 28th were paid a dividend of $0.27 per share. This is a positive change from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a yield of 2.84%. PHINIA's payout ratio is presently 61.71%.
PHINIA Company Profile
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Free Report)
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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