LSV Asset Management Acquires 46,919 Shares of PHINIA Inc. (NYSE:PHIN)

LSV Asset Management boosted its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 832,236 shares of the company's stock after purchasing an additional 46,919 shares during the period. LSV Asset Management owned about 1.98% of PHINIA worth $40,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHIN. Smartleaf Asset Management LLC increased its position 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 purchasing an additional 418 shares during the last quarter. KBC Group NV increased its holdings in PHINIA by 45.8% during the fourth 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 purchased a new stake in PHINIA during the fourth quarter valued at approximately $173,000. State of Michigan Retirement System bought a new position in PHINIA in the fourth quarter worth approximately $203,000. Finally, Magnetar Financial LLC purchased a new position in shares of PHINIA during the 4th quarter worth $264,000. Hedge funds and other institutional investors own 90.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PHIN shares. Bank of America began coverage on PHINIA in a report on Thursday, April 10th. They issued a "buy" rating and a $53.00 target price on the stock. Northland Securities began coverage on PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price objective on the stock. Northland Capmk raised PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. UBS Group reissued a "neutral" rating and issued a $45.00 target price (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Finally, CL King began coverage on shares of PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 price target on the stock. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.60.

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PHINIA Price Performance

PHIN traded up $0.83 on Tuesday, hitting $39.49. 520,496 shares of the company's stock traded hands, compared to its average volume of 609,650. The company's 50 day simple moving average is $44.90 and its 200-day simple moving average is $47.91. 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 one year low of $36.10 and a one year high of $57.23. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 22.57 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 (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $833.00 million for the quarter, compared to the consensus estimate of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. As a group, research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.73%. This is a boost from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. PHINIA's payout ratio is 61.71%.

PHINIA 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.