Teacher Retirement System of Texas Sells 36,700 Shares of PHINIA Inc. (NYSE:PHIN)

Teacher Retirement System of Texas reduced its stake in PHINIA Inc. (NYSE:PHIN) by 35.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,210 shares of the company’s stock after selling 36,700 shares during the period. Teacher Retirement System of Texas owned about 0.16% of PHINIA worth $3,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in shares of PHINIA during the third quarter worth $390,000. Swedbank AB grew its position in PHINIA by 161.2% during the 3rd quarter. Swedbank AB now owns 66,752 shares of the company’s stock worth $3,073,000 after acquiring an additional 41,200 shares during the last quarter. Hancock Whitney Corp increased its holdings in PHINIA by 122.0% in the 3rd quarter. Hancock Whitney Corp now owns 56,088 shares of the company’s stock worth $2,582,000 after purchasing an additional 30,818 shares in the last quarter. FMR LLC raised its position in PHINIA by 7.2% in the third quarter. FMR LLC now owns 86,817 shares of the company’s stock valued at $3,996,000 after purchasing an additional 5,828 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of PHINIA by 115.3% during the third quarter. MetLife Investment Management LLC now owns 24,790 shares of the company’s stock valued at $1,141,000 after purchasing an additional 13,277 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PHIN. Northland Capmk raised PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Northland Securities began coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price target for the company. CL King assumed coverage on shares of PHINIA in a report on Monday. They set a “buy” rating and a $54.00 price target on the stock. 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 note on Thursday, January 16th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $55.50.

PHINIA Stock Up 0.3 %

Shares of NYSE PHIN opened at $45.34 on Wednesday. PHINIA Inc. has a 52-week low of $36.10 and a 52-week 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. The company’s 50 day moving average price is $48.35 and its 200-day moving average price is $48.73. The company has a market capitalization of $1.85 billion, a P/E ratio of 25.91 and a beta of 1.38.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The firm had revenue of $833.00 million for the quarter, compared to the consensus estimate of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. Equities analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.27 dividend. The ex-dividend date was 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 yield of 2.38%. PHINIA’s payout ratio is 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.