Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 357 Shares of PHINIA Inc. (NYSE:PHIN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,979 shares of the company’s stock after selling 357 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PHINIA were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Magnetar Financial LLC bought a new stake in shares of PHINIA during the 4th quarter worth $264,000. Royce & Associates LP grew its position in shares of PHINIA by 66.4% during the 4th quarter. Royce & Associates LP now owns 25,140 shares of the company’s stock valued at $1,211,000 after acquiring an additional 10,031 shares during the period. AlphaQuest LLC bought a new stake in shares of PHINIA in the 4th quarter worth approximately $173,000. State of Michigan Retirement System purchased a new position in PHINIA in the fourth quarter valued at approximately $203,000. Finally, Smartleaf Asset Management LLC increased its position in PHINIA by 149.3% in 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 during the last quarter. 90.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

PHINIA Trading Down 3.3 %

Shares of NYSE:PHIN opened at $44.26 on Friday. The company has a market cap of $1.81 billion, a P/E ratio of 25.29 and a beta of 1.38. The stock’s fifty day moving average price is $48.09 and its 200-day moving average price is $48.68. PHINIA Inc. has a 1 year low of $36.10 and a 1 year high of $57.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

PHINIA (NYSE:PHIN) last issued its quarterly 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 return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $811.94 million. Sell-side analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.27 dividend. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, February 28th. PHINIA’s dividend 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.