New York State Teachers Retirement System Cuts Stake in PHINIA Inc. (NYSE:PHIN)

New York State Teachers Retirement System reduced its stake in PHINIA Inc. (NYSE:PHIN) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,006 shares of the company’s stock after selling 535 shares during the period. New York State Teachers Retirement System owned approximately 0.17% of PHINIA worth $3,420,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Segall Bryant & Hamill LLC bought a new position in shares of PHINIA during the third quarter valued at $1,073,000. Royce & Associates LP bought a new position in shares of PHINIA in the third quarter worth about $695,000. Swedbank AB raised its stake in shares of PHINIA by 161.2% in the third quarter. Swedbank AB now owns 66,752 shares of the company’s stock worth $3,073,000 after buying an additional 41,200 shares during the period. Foundry Partners LLC purchased a new stake in shares of PHINIA during the third quarter worth about $7,911,000. Finally, MetLife Investment Management LLC grew its position 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 worth $1,141,000 after purchasing an additional 13,277 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

PHINIA Price Performance

Shares of PHIN stock opened at $50.69 on Friday. PHINIA Inc. has a 52-week low of $33.50 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 firm has a market capitalization of $2.07 billion, a P/E ratio of 28.97 and a beta of 1.35. The stock has a 50 day moving average price of $49.73 and a 200 day moving average price of $48.82.

PHINIA (NYSE:PHIN) last issued its 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). 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%. As a group, sell-side analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently declared 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 of this dividend is Friday, February 28th. This is an increase from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.13%. PHINIA’s dividend payout ratio (DPR) is currently 57.14%.

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.