Peregrine Capital Management LLC Has $7.84 Million Stock Holdings in PHINIA Inc. (NYSE:PHIN)

Peregrine Capital Management LLC lowered its stake in shares of PHINIA Inc. (NYSE:PHIN) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 162,830 shares of the company’s stock after selling 5,888 shares during the period. Peregrine Capital Management LLC’s holdings in PHINIA were worth $7,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PHIN. KBC Group NV increased its position in PHINIA by 49.4% in the 3rd 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. International Assets Investment Management LLC increased its holdings in shares of PHINIA by 4,502.9% during the third quarter. International Assets Investment Management LLC now owns 3,222 shares of the company’s stock valued at $148,000 after acquiring an additional 3,152 shares in the last quarter. Creative Planning acquired a new position in shares of PHINIA during the third quarter worth approximately $203,000. Paloma Partners Management Co bought a new position in shares of PHINIA in the 3rd quarter worth $258,000. Finally, Verition Fund Management LLC acquired a new stake in PHINIA in the 3rd quarter valued at $301,000. Institutional investors own 90.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PHIN shares. UBS Group upped their price objective on shares of PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Northland Securities initiated coverage on shares of PHINIA in a report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 target price on the stock. Finally, Northland Capmk upgraded PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th.

PHINIA Price Performance

Shares of NYSE:PHIN opened at $53.20 on Wednesday. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2.24 billion, a PE ratio of 22.83 and a beta of 1.35. The stock’s fifty day simple moving average is $49.78 and its two-hundred day simple moving average is $48.69. PHINIA Inc. has a 1-year low of $31.26 and a 1-year high of $57.23.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The firm had revenue of $833.00 million for the quarter, compared to the consensus estimate of $811.94 million. As a group, analysts forecast that PHINIA Inc. will post 3.78 EPS for the current fiscal year.

PHINIA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.27 dividend. The ex-dividend date is Friday, February 28th. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.03%. PHINIA’s dividend payout ratio is currently 42.92%.

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.