Sei Investments Co. Reduces Position in PHINIA Inc. (NYSE:PHIN)

Sei Investments Co. lowered its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 13.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,965 shares of the company's stock after selling 17,336 shares during the quarter. Sei Investments Co. owned about 0.27% of PHINIA worth $5,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. MetLife Investment Management LLC lifted its stake in shares of PHINIA by 115.3% during the 3rd quarter. MetLife Investment Management LLC now owns 24,790 shares of the company's stock valued at $1,141,000 after buying an additional 13,277 shares in the last quarter. Systematic Financial Management LP purchased a new position in shares of PHINIA in the third quarter valued at about $599,000. Jane Street Group LLC lifted its position in shares of PHINIA by 297.0% in the third quarter. Jane Street Group LLC now owns 24,516 shares of the company's stock valued at $1,128,000 after acquiring an additional 18,341 shares in the last quarter. HITE Hedge Asset Management LLC boosted its stake in shares of PHINIA by 140.6% in the third quarter. HITE Hedge Asset Management LLC now owns 69,257 shares of the company's stock worth $3,188,000 after acquiring an additional 40,468 shares during the period. Finally, ABS Direct Equity Fund LLC grew its position in shares of PHINIA by 12,400.0% during the third quarter. ABS Direct Equity Fund LLC now owns 50,000 shares of the company's stock worth $2,302,000 after purchasing an additional 49,600 shares in the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

PHIN has been the subject of several recent analyst reports. Northland Securities started coverage on PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target for the company. CL King began coverage on shares of PHINIA in a research report on Monday, March 24th. They set a "buy" rating and a $54.00 target price for the company. UBS Group lifted their price target on shares of PHINIA from $55.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Finally, Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PHINIA has a consensus rating of "Buy" and an average target price of $55.50.

PHINIA Price Performance

PHIN traded down $1.67 during trading hours on Friday, hitting $38.03. The company's stock had a trading volume of 592,472 shares, compared to its average volume of 609,136. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 21.73 and a beta of 1.55. The business's 50-day moving average price is $46.98 and its 200-day moving average price is $48.52. 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 12 month low of $36.10 and a 12 month high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last posted 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 return on equity of 10.12% and a net margin of 2.32%. The business had revenue of $833.00 million during the quarter, compared to the consensus estimate of $811.94 million. Sell-side analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The business 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 is a boost from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.84%. PHINIA's payout ratio is 61.71%.

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.