Corient Private Wealth LLC Cuts Stock Holdings in PHINIA Inc. (NYSE:PHIN)

Corient Private Wealth LLC cut its stake in PHINIA Inc. (NYSE:PHIN) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,813 shares of the company’s stock after selling 1,776 shares during the period. Corient Private Wealth LLC’s holdings in PHINIA were worth $328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PHIN. Royce & Associates LP grew its holdings in shares of PHINIA by 66.4% during the fourth quarter. Royce & Associates LP now owns 25,140 shares of the company’s stock worth $1,211,000 after purchasing an additional 10,031 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of PHINIA in the 4th quarter valued at $173,000. State of Michigan Retirement System purchased a new stake in PHINIA in the 4th quarter valued at $203,000. Smartleaf Asset Management LLC boosted its stake in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after purchasing an additional 418 shares during the period. Finally, QRG Capital Management Inc. grew its position in PHINIA by 29.1% during the 4th quarter. QRG Capital Management Inc. now owns 9,610 shares of the company’s stock worth $463,000 after purchasing an additional 2,168 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. CL King assumed coverage on PHINIA in a research note on Monday, March 24th. They set a “buy” rating and a $54.00 price target for the company. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Northland Securities started coverage on shares of PHINIA in a research note on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target on the stock. Finally, UBS Group upped their price objective on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, PHINIA presently has a consensus rating of “Buy” and a consensus target price of $55.50.

PHINIA Stock Down 2.6 %

PHINIA stock opened at $43.11 on Monday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 24.64 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. PHINIA Inc. has a fifty-two week low of $36.10 and a fifty-two week high of $57.23. The stock’s fifty day moving average is $47.92 and its two-hundred day moving average is $48.70.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, February 13th. The company reported $0.71 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 company had revenue of $833.00 million for the quarter, compared to analyst estimates of $811.94 million. Analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal 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 issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.50%. This is an increase from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. PHINIA’s payout ratio is presently 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.