Thrivent Financial for Lutherans Decreases Stock Holdings in PHINIA Inc. (NYSE:PHIN)

Thrivent Financial for Lutherans lessened its stake in PHINIA Inc. (NYSE:PHIN) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,509 shares of the company’s stock after selling 1,791 shares during the period. Thrivent Financial for Lutherans owned 0.08% of PHINIA worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC increased its position in shares of PHINIA by 115.3% during the third quarter. MetLife Investment Management LLC now owns 24,790 shares of the company’s stock worth $1,141,000 after purchasing an additional 13,277 shares in the last quarter. Systematic Financial Management LP acquired a new position in PHINIA during the 3rd quarter valued at about $599,000. Jane Street Group LLC increased its position in PHINIA by 297.0% during the 3rd quarter. Jane Street Group LLC now owns 24,516 shares of the company’s stock valued at $1,128,000 after buying an additional 18,341 shares in the last quarter. HITE Hedge Asset Management LLC raised its stake in PHINIA by 140.6% in the third quarter. HITE Hedge Asset Management LLC now owns 69,257 shares of the company’s stock valued at $3,188,000 after buying an additional 40,468 shares during the last quarter. Finally, Atom Investors LP boosted its holdings in PHINIA by 71.6% in the third quarter. Atom Investors LP now owns 142,612 shares of the company’s stock worth $6,564,000 after acquiring an additional 59,515 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PHIN shares. CL King initiated coverage on shares of PHINIA in a report on Monday, March 24th. They set a “buy” rating and a $54.00 price objective on the stock. UBS Group upped their price target on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Finally, Northland Securities started 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. 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 stock. Based on data from MarketBeat.com, PHINIA has an average rating of “Buy” and an average price target of $55.50.

PHINIA Price Performance

Shares of NYSE PHIN opened at $43.11 on Monday. PHINIA Inc. has a 52 week low of $36.10 and a 52 week high of $57.23. The business’s 50 day moving average price is $47.92 and its 200 day moving average price is $48.70. 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 firm has a market cap of $1.76 billion, a P/E ratio of 24.64 and a beta of 1.38.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.71 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 business had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $811.94 million. On average, sell-side analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.27 per share. This is an increase from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, February 28th. PHINIA’s dividend payout ratio (DPR) 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.