State of New Jersey Common Pension Fund D Sells 314 Shares of PHINIA Inc. (NYSE:PHIN)

State of New Jersey Common Pension Fund D lessened its stake in shares of PHINIA Inc. (NYSE:PHIN) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 40,283 shares of the company’s stock after selling 314 shares during the period. State of New Jersey Common Pension Fund D owned 0.10% of PHINIA worth $1,940,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. purchased a new position in shares of PHINIA in the third quarter worth $80,154,000. Empowered Funds LLC bought a new stake in shares of PHINIA in the third quarter worth about $10,504,000. Foundry Partners LLC bought a new position in PHINIA during the third quarter valued at approximately $7,911,000. Jacobs Levy Equity Management Inc. boosted its stake in PHINIA by 10.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company’s stock valued at $46,794,000 after buying an additional 95,870 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of PHINIA by 334.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 123,571 shares of the company’s stock valued at $5,688,000 after acquiring an additional 95,123 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Analyst Ratings Changes

PHIN has been the topic of a number of research reports. Northland Securities assumed 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. UBS Group upped their price objective on 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 raised PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th.

PHINIA Price Performance

Shares of PHIN opened at $50.70 on Tuesday. The stock has a market capitalization of $2.07 billion, a PE ratio of 28.97 and a beta of 1.35. PHINIA Inc. has a fifty-two week low of $33.50 and a fifty-two 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 has a 50 day moving average price of $49.71 and a 200-day moving average price of $48.95.

PHINIA (NYSE:PHIN) last posted 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 company had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $811.94 million. Equities analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 2.13%. This is an increase from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio is 61.71%.

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.