Vanguard Group Inc. decreased its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,981,021 shares of the company's stock after selling 214,358 shares during the quarter. Vanguard Group Inc. owned about 11.84% of PHINIA worth $239,936,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in PHINIA by 8.5% during the 4th quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock valued at $68,120,000 after purchasing an additional 110,931 shares in the last quarter. Barclays PLC raised its stake in PHINIA by 336.2% in the 3rd quarter. Barclays PLC now owns 72,805 shares of the company's stock worth $3,351,000 after acquiring an additional 56,114 shares during the last quarter. ABS Direct Equity Fund LLC lifted its position in PHINIA by 12,400.0% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 50,000 shares of the company's stock worth $2,302,000 after acquiring an additional 49,600 shares during the period. Public Employees Retirement System of Ohio grew its stake in PHINIA by 352.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 38,474 shares of the company's stock valued at $1,771,000 after purchasing an additional 29,977 shares during the last quarter. Finally, Vest Financial LLC increased its holdings in shares of PHINIA by 79.2% in the fourth quarter. Vest Financial LLC now owns 52,757 shares of the company's stock valued at $2,541,000 after purchasing an additional 23,310 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.
PHINIA Stock Performance
NYSE PHIN traded down $2.80 during mid-day trading on Thursday, reaching $38.08. 498,659 shares of the stock were exchanged, compared to its average volume of 610,262. The company has a market capitalization of $1.55 billion, a P/E ratio of 21.76 and a beta of 1.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. The business's 50 day moving average is $45.61 and its 200-day moving average is $48.08. PHINIA Inc. has a 1 year low of $36.10 and a 1 year 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 (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $833.00 million for the quarter, compared to analysts' expectations of $811.94 million. On average, equities research analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.
PHINIA Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.27 dividend. This is a positive change from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, February 28th. PHINIA's dividend payout ratio (DPR) is presently 61.71%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Northland Securities assumed coverage on PHINIA in a report on Thursday, January 30th. They set an "outperform" rating and a $61.00 target price for the company. CL King started coverage on shares of PHINIA in a report on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective on the stock. Bank of America assumed coverage on shares of PHINIA in a report on Thursday. They set a "buy" rating and a $53.00 target price for the company. UBS Group restated a "neutral" rating and set a $45.00 target price (down from $56.00) on shares of PHINIA in a research report on Thursday. Finally, Northland Capmk raised PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.60.
Read Our Latest Stock Analysis on PHINIA
PHINIA Profile
(
Free Report)
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.
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