Ritholtz Wealth Management Buys 9,442 Shares of PHINIA Inc. (NYSE:PHIN)

Ritholtz Wealth Management increased its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 50.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,046 shares of the company's stock after purchasing an additional 9,442 shares during the quarter. Ritholtz Wealth Management owned approximately 0.07% of PHINIA worth $1,351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new stake in shares of PHINIA during the third quarter valued at about $80,154,000. Empowered Funds LLC acquired a new stake in PHINIA during the 3rd quarter worth approximately $10,504,000. Dimensional Fund Advisors LP grew its holdings in PHINIA by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company's stock worth $51,869,000 after acquiring an additional 215,150 shares during the last quarter. Foundry Partners LLC acquired a new position in PHINIA in the 3rd quarter valued at approximately $7,911,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of PHINIA by 10.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company's stock valued at $46,794,000 after acquiring an additional 95,870 shares during the last quarter. Institutional investors own 90.94% of the company's stock.

PHINIA Stock Up 0.5 %

PHIN traded up $0.26 during midday trading on Friday, hitting $51.49. The company had a trading volume of 319,758 shares, compared to its average volume of 570,126. The stock's 50 day moving average price is $51.29 and its 200 day moving average price is $47.47. PHINIA Inc. has a 52 week low of $27.86 and a 52 week high of $57.23. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 22.10 and a beta of 1.35. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.38. The business had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The firm's revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. On average, research analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA's dividend payout ratio is currently 42.92%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PHIN. UBS Group boosted their price objective on shares of PHINIA from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley cut PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 price target for the company. in a research note on Wednesday, September 25th.

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.