PHINIA Inc. (NYSE:PHIN) Holdings Cut by Wittenberg Investment Management Inc.

Wittenberg Investment Management Inc. decreased its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 28.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 37,507 shares of the company's stock after selling 14,600 shares during the period. PHINIA accounts for about 0.7% of Wittenberg Investment Management Inc.'s portfolio, making the stock its 22nd largest position. Wittenberg Investment Management Inc. owned 0.09% of PHINIA worth $1,807,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after buying an additional 418 shares in the last quarter. KBC Group NV increased its holdings in shares of PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after acquiring an additional 685 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of PHINIA in the 4th quarter valued at approximately $173,000. State of Michigan Retirement System acquired a new stake in PHINIA in the 4th quarter worth approximately $203,000. Finally, Paloma Partners Management Co acquired a new position in PHINIA during the 3rd quarter valued at approximately $258,000. Hedge funds and other institutional investors own 90.94% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on PHIN. Northland Securities initiated coverage on shares of PHINIA in a research note on Thursday, January 30th. They set an "outperform" rating and a $61.00 price objective for the company. CL King assumed coverage on PHINIA in a research report on Monday, March 24th. They issued a "buy" rating and a $54.00 target price on the stock. Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Finally, UBS Group upped their target price on PHINIA from $55.00 to $57.00 and gave the stock a "buy" rating in a research note 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 issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $55.50.

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PHINIA Price Performance

Shares of NYSE PHIN traded up $0.44 during mid-day trading on Wednesday, reaching $38.08. The company's stock had a trading volume of 199,135 shares, compared to its average volume of 608,950. The stock has a market capitalization of $1.55 billion, a P/E ratio of 21.75 and a beta of 1.56. The stock has a 50-day moving average of $46.25 and a two-hundred day moving average of $48.28. PHINIA Inc. has a 1-year low of $36.10 and a 1-year high of $57.23. 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 (NYSE:PHIN - Get Free Report) last announced 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). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The company had revenue of $833.00 million during the quarter, compared to analysts' expectations of $811.94 million. On average, equities research analysts anticipate that PHINIA Inc. will post 4.21 EPS 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 given a $0.27 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 2.84%. This is an increase from PHINIA's previous quarterly dividend of $0.25. PHINIA's payout ratio is presently 61.71%.

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.