Ritholtz Wealth Management Increases Stake in PHINIA Inc. (NYSE:PHIN)

Ritholtz Wealth Management boosted its stake in shares of PHINIA Inc. (NYSE:PHIN) by 50.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,046 shares of the company’s stock after acquiring an additional 9,442 shares during the quarter. Ritholtz Wealth Management owned 0.07% of PHINIA worth $1,351,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. CWA Asset Management Group LLC raised its position in PHINIA by 23.5% during the fourth quarter. CWA Asset Management Group LLC now owns 20,797 shares of the company’s stock valued at $1,002,000 after acquiring an additional 3,954 shares in the last quarter. Principal Financial Group Inc. raised its position in PHINIA by 1.1% during the third quarter. Principal Financial Group Inc. now owns 227,742 shares of the company’s stock valued at $10,483,000 after acquiring an additional 2,422 shares in the last quarter. Tidal Investments LLC purchased a new position in PHINIA during the third quarter valued at approximately $527,000. ABS Direct Equity Fund LLC raised 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 valued at $2,302,000 after acquiring an additional 49,600 shares in the last quarter. Finally, Barclays PLC raised its position in PHINIA by 336.2% during the third quarter. Barclays PLC now owns 72,805 shares of the company’s stock valued at $3,351,000 after acquiring an additional 56,114 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

PHINIA Stock Up 0.5 %

PHINIA stock opened at $51.49 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. PHINIA Inc. has a 12 month low of $27.86 and a 12 month high of $57.23. The stock has a market capitalization of $2.17 billion, a PE ratio of 22.10 and a beta of 1.35. The business has a 50 day simple moving average of $51.29 and a 200-day simple moving average of $47.47.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.79 by $0.38. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The firm had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $829.82 million. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, analysts anticipate that PHINIA Inc. will post 3.44 EPS for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA’s payout ratio is 42.92%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley cut PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research report on Wednesday, September 25th. UBS Group boosted their price objective on PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday.

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.