Swiss National Bank Has $4.14 Million Position in PHINIA Inc. (NYSE:PHIN)

Swiss National Bank lowered its stake in shares of PHINIA Inc. (NYSE:PHIN) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,916 shares of the company’s stock after selling 3,300 shares during the quarter. Swiss National Bank owned 0.20% of PHINIA worth $4,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PHIN. Intech Investment Management LLC bought a new position in PHINIA during the third quarter valued at about $390,000. Swedbank AB raised its position in shares of PHINIA by 161.2% during the 3rd quarter. Swedbank AB now owns 66,752 shares of the company’s stock valued at $3,073,000 after buying an additional 41,200 shares in the last quarter. Hancock Whitney Corp lifted its stake in PHINIA by 122.0% during the third 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 during the last quarter. FMR LLC grew its position in PHINIA by 7.2% during the third quarter. FMR LLC now owns 86,817 shares of the company’s stock valued at $3,996,000 after acquiring an additional 5,828 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in 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 buying an additional 13,277 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHIN has been the subject of several analyst reports. Northland Securities initiated coverage on shares of PHINIA in a research report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target for the company. CL King started coverage on shares of PHINIA in a research note on Monday. They set a “buy” rating and a $54.00 price objective on the stock. Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Finally, UBS Group increased their target price on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $55.50.

PHINIA Stock Performance

Shares of PHIN stock opened at $45.34 on Wednesday. The firm has a market capitalization of $1.85 billion, a PE ratio of 25.91 and a beta of 1.38. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $48.35 and a 200-day moving average price of $48.73. PHINIA Inc. has a 52 week low of $36.10 and a 52 week high of $57.23.

PHINIA (NYSE:PHIN) last posted 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 during 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, equities research analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase 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.