Renaissance Technologies LLC Sells 23,300 Shares of PHINIA Inc. (NYSE:PHIN)

Renaissance Technologies LLC trimmed its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 43.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,100 shares of the company's stock after selling 23,300 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of PHINIA worth $1,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in 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 period. KBC Group NV increased its position in PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock worth $105,000 after acquiring an additional 685 shares during the period. AlphaQuest LLC acquired a new position in PHINIA during the 4th quarter valued at $173,000. State of Michigan Retirement System acquired a new stake in PHINIA in the 4th quarter worth $203,000. Finally, Magnetar Financial LLC acquired a new position in shares of PHINIA during the fourth quarter valued at about $264,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Bank of America assumed coverage on PHINIA in a report on Thursday, April 10th. They issued a "buy" rating and a $53.00 price target for the company. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. UBS Group reaffirmed a "neutral" rating and set a $45.00 price objective (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Northland Securities assumed coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target for the company. Finally, CL King assumed coverage on PHINIA in a report on Monday, March 24th. They issued a "buy" rating and a $54.00 target price for the company. Three investment 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.50.

PHINIA Stock Up 0.1 %

NYSE PHIN opened at $40.84 on Tuesday. The stock's 50 day simple moving average is $43.26 and its 200 day simple moving average is $47.70. 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 firm has a market cap of $1.63 billion, a PE ratio of 23.34 and a beta of 1.56.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). The business had revenue of $796.00 million during the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The business's quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. As a group, sell-side analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.27 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.64%. This is a positive change from PHINIA's previous quarterly dividend of $0.25. PHINIA's dividend payout ratio (DPR) is currently 61.36%.

PHINIA Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.