XTX Topco Ltd Takes $943,000 Position in PHINIA Inc. (NYSE:PHIN)

XTX Topco Ltd bought a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 19,585 shares of the company's stock, valued at approximately $943,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in shares of PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after purchasing an additional 418 shares during the last quarter. KBC Group NV increased its position in PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock worth $105,000 after purchasing an additional 685 shares during the period. AlphaQuest LLC bought a new stake in shares of PHINIA during the fourth quarter worth approximately $173,000. State of Michigan Retirement System bought a new position in PHINIA in the fourth quarter valued at approximately $203,000. Finally, Optimize Financial Inc acquired a new position in shares of PHINIA during the 4th quarter worth about $206,000. 90.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PHIN has been the subject of a number of research reports. Bank of America initiated coverage on PHINIA in a report on Thursday, April 10th. They set a "buy" rating and a $53.00 target price for the company. UBS Group reiterated a "neutral" rating and issued a $45.00 price objective (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. CL King initiated coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 price target on the stock. Northland Securities started coverage on PHINIA in a report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price objective for the company. Finally, Northland Capmk upgraded PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $52.60.

PHINIA Stock Down 2.4 %

NYSE:PHIN traded down $0.98 on Monday, hitting $40.22. The stock had a trading volume of 109,032 shares, compared to its average volume of 577,106. The business's fifty day moving average is $44.40 and its 200 day moving average is $47.83. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $57.23. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.60 billion, a PE ratio of 22.98 and a beta of 1.56.

PHINIA (NYSE:PHIN - Get Free Report) last released 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 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 the consensus estimate of $811.94 million. On average, equities research analysts expect that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from PHINIA's previous quarterly dividend of $0.25. PHINIA's payout ratio is currently 61.71%.

About PHINIA

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.