Rhumbline Advisers Sells 7,651 Shares of PHINIA Inc. (NYSE:PHIN)

Rhumbline Advisers decreased its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 5.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 132,693 shares of the company's stock after selling 7,651 shares during the period. Rhumbline Advisers owned 0.32% of PHINIA worth $6,392,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PHIN. KBC Group NV grew its stake in PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company's stock worth $69,000 after buying an additional 494 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of PHINIA by 4,502.9% during the 3rd 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 during the period. Creative Planning acquired a new stake in shares of PHINIA during the 3rd quarter worth approximately $203,000. Paloma Partners Management Co bought a new position in PHINIA in the third quarter valued at approximately $258,000. Finally, Verition Fund Management LLC bought a new position in PHINIA in the third quarter valued at approximately $301,000. Institutional investors and hedge funds own 90.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. 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. UBS Group raised their price objective on PHINIA from $55.00 to $57.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Finally, Northland Capmk raised PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th.

Remove Ads

PHINIA Stock Down 0.0 %

NYSE PHIN traded down $0.02 on Friday, reaching $49.28. The company had a trading volume of 663,868 shares, compared to its average volume of 446,686. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The company's fifty day moving average is $49.80 and its 200 day moving average is $49.09. PHINIA Inc. has a 52-week low of $33.72 and a 52-week high of $57.23. The stock has a market capitalization of $2.01 billion, a P/E ratio of 28.16 and a beta of 1.35.

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

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.27 dividend. The ex-dividend date is Friday, February 28th. This is a positive change from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.19%. PHINIA's payout ratio is presently 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.