Principal Financial Group Inc. Acquires 842 Shares of PHINIA Inc. (NYSE:PHIN)

Principal Financial Group Inc. lifted its holdings in PHINIA Inc. (NYSE:PHIN) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 228,584 shares of the company’s stock after purchasing an additional 842 shares during the quarter. Principal Financial Group Inc. owned about 0.54% of PHINIA worth $11,011,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. KBC Group NV boosted its position in shares of PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after buying an additional 494 shares during the period. International Assets Investment Management LLC lifted its stake in PHINIA by 4,502.9% in the 3rd 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 PHINIA during the 3rd quarter worth approximately $203,000. Paloma Partners Management Co bought a new position in shares of PHINIA during the 3rd quarter worth approximately $258,000. Finally, Verition Fund Management LLC acquired a new stake in shares of PHINIA in the third quarter valued at approximately $301,000. 90.94% of the stock is owned by institutional investors.

PHINIA Stock Performance

NYSE PHIN opened at $49.28 on Friday. The firm has a market capitalization of $2.01 billion, a P/E ratio of 28.16 and a beta of 1.35. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average price is $49.76 and its two-hundred day moving average price is $49.01. PHINIA Inc. has a 1 year low of $33.72 and a 1 year high of $57.23.

PHINIA (NYSE:PHIN) last issued 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 firm had revenue of $833.00 million during the quarter, compared to the consensus estimate of $811.94 million. As a group, research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.19%. This is a boost from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 28th. PHINIA’s dividend payout ratio (DPR) is presently 61.71%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. UBS Group raised their price objective on PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Northland Securities assumed 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.

PHINIA Company 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.