PHINIA Inc. (NYSE:PHIN) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 35.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,210 shares of the company's stock after selling 36,700 shares during the quarter. Teacher Retirement System of Texas owned about 0.16% of PHINIA worth $3,286,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PHIN. Intech Investment Management LLC purchased a new stake in shares of PHINIA in the third quarter valued at about $390,000. Swedbank AB raised its stake in PHINIA by 161.2% during the 3rd quarter. Swedbank AB now owns 66,752 shares of the company's stock valued at $3,073,000 after acquiring an additional 41,200 shares during the last quarter. Hancock Whitney Corp lifted its position in PHINIA by 122.0% during the 3rd quarter. Hancock Whitney Corp now owns 56,088 shares of the company's stock worth $2,582,000 after acquiring an additional 30,818 shares during the period. FMR LLC grew its stake in shares of PHINIA by 7.2% in the 3rd quarter. FMR LLC now owns 86,817 shares of the company's stock valued at $3,996,000 after purchasing an additional 5,828 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of PHINIA by 115.3% in the third quarter. MetLife Investment Management LLC now owns 24,790 shares of the company's stock valued at $1,141,000 after purchasing an additional 13,277 shares during the period. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Price Performance

Shares of NYSE:PHIN traded down $1.15 during midday trading on Friday, hitting $43.11. 331,027 shares of the stock were exchanged, compared to its average volume of 608,840. PHINIA Inc. has a twelve month low of $36.10 and a twelve month high of $57.23. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $47.92 and a 200-day moving average price of $48.68. The stock has a market cap of $1.76 billion, a P/E ratio of 24.64 and a beta of 1.38.

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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 business had revenue of $833.00 million during the quarter, compared to analysts' expectations of $811.94 million. On average, research analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.27 per share. This is an increase from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a yield of 2.50%. PHINIA's dividend payout ratio (DPR) is presently 61.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Northland Securities started coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price objective for the company. CL King started coverage on PHINIA in a report on Monday, March 24th. They issued a "buy" rating and a $54.00 price target for the company. Northland Capmk raised PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Finally, UBS Group raised their target price on PHINIA from $55.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $55.50.

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.