Charles Schwab Investment Management Inc. Lowers Holdings in PHINIA Inc. (NYSE:PHIN)

Charles Schwab Investment Management Inc. reduced its stake in PHINIA Inc. (NYSE:PHIN) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 763,037 shares of the company’s stock after selling 1,216 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.81% of PHINIA worth $36,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in PHIN. Pacer Advisors Inc. purchased a new position in shares of PHINIA in the third quarter worth $80,154,000. Jacobs Levy Equity Management Inc. raised 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. Wellington Management Group LLP increased its stake in PHINIA by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 333,395 shares of the company’s stock valued at $15,346,000 after purchasing an additional 3,804 shares in the last quarter. Empowered Funds LLC raised its holdings in PHINIA by 5.1% in the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company’s stock worth $11,552,000 after acquiring an additional 11,625 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of PHINIA by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 228,584 shares of the company’s stock worth $11,011,000 after purchasing an additional 842 shares during the last quarter. Institutional investors own 90.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PHIN shares. UBS Group lifted their target price on shares of PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Northland Securities began coverage on PHINIA in a research note on Thursday, January 30th. They set an “outperform” rating and a $61.00 target price on the stock. Finally, Northland Capmk upgraded PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th.

PHINIA Trading Up 5.5 %

Shares of PHIN opened at $42.95 on Friday. PHINIA Inc. has a twelve month low of $36.10 and a twelve month high of $57.23. The company’s fifty day simple moving average is $48.89 and its 200-day simple moving average is $48.87. The company has a market cap of $1.75 billion, a P/E ratio of 24.54 and a beta of 1.38. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61.

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

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 2.51%. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s payout ratio is currently 61.71%.

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.