Victory Capital Management Inc. lowered its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 176,952 shares of the company's stock after selling 10,342 shares during the period. Victory Capital Management Inc. owned about 0.42% of PHINIA worth $8,524,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in PHIN. Quantinno Capital Management LP grew its stake in shares of PHINIA by 2.4% during the 3rd quarter. Quantinno Capital Management LP now owns 14,637 shares of the company's stock worth $674,000 after purchasing an additional 345 shares during the period. Smartleaf Asset Management LLC grew its position in PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after buying an additional 418 shares during the period. KBC Group NV increased its holdings in PHINIA by 49.4% in the third quarter. KBC Group NV now owns 1,495 shares of the company's stock valued at $69,000 after buying an additional 494 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of PHINIA by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 228,584 shares of the company's stock valued at $11,011,000 after acquiring an additional 842 shares during the period. Finally, QRG Capital Management Inc. lifted its position in shares of PHINIA by 29.1% during the 4th quarter. QRG Capital Management Inc. now owns 9,610 shares of the company's stock valued at $463,000 after acquiring an additional 2,168 shares during the period. Hedge funds and other institutional investors own 90.94% of the company's stock.
Analysts Set New Price Targets
Several research firms recently weighed in on PHIN. Northland Capmk raised PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. Northland Securities started coverage on PHINIA in a research report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target for the company. Finally, 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 report on Thursday, January 16th.
View Our Latest Report on PHINIA
PHINIA Price Performance
PHIN stock traded down $0.31 on Monday, reaching $42.57. The company had a trading volume of 904,167 shares, compared to its average volume of 571,941. The company's fifty day moving average is $48.89 and its 200 day moving average is $48.88. The company has a market cap of $1.74 billion, a P/E ratio of 24.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. 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 issued its quarterly earnings data 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). The company had revenue of $833.00 million during the quarter, compared to analysts' expectations of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. On average, research analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.
PHINIA Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.27 per share. This is a boost from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Friday, February 28th. PHINIA's dividend payout ratio (DPR) is currently 61.71%.
PHINIA Company 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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