Victory Capital Management Inc. Trims Position in PHINIA Inc. (NYSE:PHIN)

Victory Capital Management Inc. cut its stake in shares of PHINIA Inc. (NYSE:PHIN) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,952 shares of the company’s stock after selling 10,342 shares during the period. Victory Capital Management Inc. owned 0.42% of PHINIA worth $8,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after buying an additional 418 shares in the last quarter. KBC Group NV raised its stake in PHINIA by 49.4% in the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after purchasing an additional 494 shares in the last quarter. State of Michigan Retirement System bought a new stake in PHINIA during the fourth quarter valued at approximately $203,000. Paloma Partners Management Co purchased a new position in PHINIA in the 3rd quarter worth approximately $258,000. Finally, Verition Fund Management LLC bought a new position in shares of PHINIA in the 3rd quarter worth $301,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PHIN. Northland Securities assumed coverage on shares of PHINIA in a report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price objective for the company. Northland Capmk raised PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Finally, UBS Group increased their price objective on PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, January 16th.

PHINIA Price Performance

Shares of NYSE:PHIN opened at $40.55 on Friday. The company’s fifty day moving average is $49.15 and its 200 day moving average is $48.97. 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 Inc. has a 52 week low of $35.84 and a 52 week high of $57.23. The stock has a market cap of $1.66 billion, a PE ratio of 23.17 and a beta of 1.38.

PHINIA (NYSE:PHIN) last released 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). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $811.94 million. Research analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.66%. This is an increase from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is 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.