Peregrine Capital Management LLC Has $7.84 Million Position in PHINIA Inc. (NYSE:PHIN)

Peregrine Capital Management LLC trimmed its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,830 shares of the company's stock after selling 5,888 shares during the quarter. Peregrine Capital Management LLC owned about 0.39% of PHINIA worth $7,844,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. KBC Group NV lifted its holdings in shares of PHINIA by 49.4% during the 3rd quarter. KBC Group NV now owns 1,495 shares of the company's stock worth $69,000 after acquiring an additional 494 shares during the period. International Assets Investment Management LLC raised its stake in PHINIA by 4,502.9% during the third quarter. International Assets Investment Management LLC now owns 3,222 shares of the company's stock worth $148,000 after acquiring an additional 3,152 shares in the last quarter. Creative Planning acquired a new stake in shares of PHINIA in the 3rd quarter valued at approximately $203,000. Paloma Partners Management Co bought a new stake in shares of PHINIA during the 3rd quarter valued at approximately $258,000. Finally, Verition Fund Management LLC acquired a new position in PHINIA during the 3rd quarter worth approximately $301,000. 90.94% of the stock is owned by institutional investors.

PHINIA Trading Down 4.6 %

PHIN traded down $2.45 during midday trading on Friday, hitting $50.69. 445,910 shares of the company were exchanged, compared to its average volume of 452,354. The firm's 50 day moving average price is $49.73 and its 200-day moving average price is $48.86. PHINIA Inc. has a 1-year low of $33.50 and a 1-year high of $57.23. The firm has a market capitalization of $2.07 billion, a P/E ratio of 28.97 and a beta of 1.35. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61.

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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 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 analyst estimates of $811.94 million. As a group, equities analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.27 dividend. This is a positive change from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, February 28th. PHINIA's dividend payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Northland Securities initiated coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price on the stock. Northland Capmk raised PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Finally, UBS Group upped their target price on PHINIA from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Thursday, January 16th.

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.