PHINIA Inc. (NYSE:PHIN) Stake Boosted by Royce & Associates LP

Royce & Associates LP raised its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 66.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,140 shares of the company’s stock after purchasing an additional 10,031 shares during the period. Royce & Associates LP owned about 0.06% of PHINIA worth $1,211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake 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 acquiring an additional 418 shares during the period. KBC Group NV grew its holdings in shares of PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after purchasing an additional 494 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of PHINIA during the 4th quarter worth approximately $173,000. State of Michigan Retirement System bought a new stake in shares of 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. 90.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

PHINIA Trading Up 0.2 %

Shares of PHIN stock opened at $44.19 on Friday. PHINIA Inc. has a 1 year low of $36.10 and a 1 year high of $57.23. The firm has a market capitalization of $1.80 billion, a PE ratio of 25.25 and a beta of 1.38. The stock has a fifty day moving average of $48.56 and a two-hundred day moving average of $48.75. 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) last announced its earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $811.94 million. As a group, research analysts expect that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.27 per share. This is a boost from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a yield of 2.44%. PHINIA’s payout ratio is presently 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.