Vanguard Group Inc. Sells 214,358 Shares of PHINIA Inc. (NYSE:PHIN)

Vanguard Group Inc. trimmed its stake in PHINIA Inc. (NYSE:PHIN) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,981,021 shares of the company’s stock after selling 214,358 shares during the quarter. Vanguard Group Inc. owned approximately 11.84% of PHINIA worth $239,936,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MetLife Investment Management LLC lifted its position in shares of PHINIA by 115.3% in 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 last quarter. Systematic Financial Management LP bought a new stake in PHINIA in the 3rd quarter valued at $599,000. Jane Street Group LLC lifted its holdings 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 purchasing an additional 18,341 shares during the last quarter. ABS Direct Equity Fund LLC boosted its position in PHINIA by 12,400.0% during the third quarter. ABS Direct Equity Fund LLC now owns 50,000 shares of the company’s stock worth $2,302,000 after purchasing an additional 49,600 shares during the period. Finally, Barclays PLC increased its holdings in shares of PHINIA by 336.2% in the third quarter. Barclays PLC now owns 72,805 shares of the company’s stock valued at $3,351,000 after purchasing an additional 56,114 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

PHIN has been the subject of a number of research reports. UBS Group raised their target price on shares of PHINIA from $55.00 to $57.00 and gave the stock 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 report on Thursday, January 30th. CL King began coverage on PHINIA in a research report on Monday, March 24th. They issued a “buy” rating and a $54.00 target price on the stock. Finally, Northland Securities started coverage on PHINIA in a report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target for the company. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $55.50.

PHINIA Stock Performance

NYSE PHIN opened at $38.03 on Friday. The firm has a 50-day moving average price of $46.98 and a two-hundred day moving average price of $48.52. PHINIA Inc. has a 12-month low of $36.10 and a 12-month high of $57.23. The company has a market capitalization of $1.55 billion, a P/E ratio of 21.73 and a beta of 1.55. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (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 the consensus estimate of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. Analysts anticipate 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. Stockholders of record on Friday, February 28th were issued a dividend of $0.27 per share. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Friday, February 28th. PHINIA’s dividend payout ratio is 61.71%.

PHINIA 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.