Geode Capital Management LLC cut its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 978,838 shares of the company's stock after selling 37,630 shares during the period. Geode Capital Management LLC owned 2.33% of PHINIA worth $47,161,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in shares of PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after buying an additional 418 shares during the period. KBC Group NV increased its holdings in shares of PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after purchasing an additional 685 shares during the period. AlphaQuest LLC purchased a new stake in shares of PHINIA during the fourth quarter worth approximately $173,000. State of Michigan Retirement System acquired a new position in PHINIA in the 4th quarter valued at $203,000. Finally, Magnetar Financial LLC purchased a new stake in shares of PHINIA in the fourth quarter valued at about $264,000. 90.94% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have weighed in on PHIN. UBS Group restated a "neutral" rating and set a $45.00 target price (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Northland Securities began coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price objective on the stock. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. Bank of America assumed coverage on shares of PHINIA in a research note on Thursday, April 10th. They issued a "buy" rating and a $53.00 target price for the company. Finally, CL King started coverage on shares of PHINIA in a research note on Monday, March 24th. They set a "buy" rating and a $54.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PHINIA currently has an average rating of "Moderate Buy" and an average price target of $52.60.
Read Our Latest Research Report on PHIN
PHINIA Stock Up 0.9 %
Shares of NYSE:PHIN traded up $0.37 during midday trading on Friday, reaching $41.24. The company had a trading volume of 497,137 shares, compared to its average volume of 611,104. 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 Inc. has a one year low of $36.25 and a one year high of $57.23. The stock's fifty day moving average price is $44.57 and its 200-day moving average price is $47.83. The stock has a market capitalization of $1.64 billion, a P/E ratio of 23.56 and a beta of 1.56.
PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings results 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). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm had revenue of $833.00 million for the quarter, compared to analyst estimates of $811.94 million. Equities research analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.
PHINIA Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.62%. PHINIA's payout ratio is currently 61.71%.
About PHINIA
(
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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