Teacher Retirement System of Texas Has $3.29 Million Stock Position in PHINIA Inc. (NYSE:PHIN)

Teacher Retirement System of Texas cut its position in PHINIA Inc. (NYSE:PHIN) by 35.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 68,210 shares of the company’s stock after selling 36,700 shares during the quarter. Teacher Retirement System of Texas’ holdings in PHINIA were worth $3,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royce & Associates LP grew its stake in PHINIA by 66.4% in the fourth 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 acquired a new stake in PHINIA in the 4th quarter valued at $173,000. State of Michigan Retirement System bought a new stake in PHINIA during the 4th quarter valued at $203,000. Smartleaf Asset Management LLC increased its stake in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after purchasing an additional 418 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in PHINIA by 29.1% during the fourth quarter. QRG Capital Management Inc. now owns 9,610 shares of the company’s stock worth $463,000 after buying an additional 2,168 shares during the last quarter. 90.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PHIN shares. UBS Group lifted their price objective on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Northland Securities initiated coverage on PHINIA in a research note on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target for the company. CL King initiated coverage on PHINIA in a research note on Monday. They issued a “buy” rating and a $54.00 price objective for the company. Finally, Northland Capmk raised PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $55.50.

PHINIA Trading Up 0.3 %

Shares of PHIN stock opened at $45.34 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 25.91 and a beta of 1.38. PHINIA Inc. has a 52-week low of $36.10 and a 52-week high of $57.23. The company has a 50-day simple moving average of $48.35 and a two-hundred day simple moving average of $48.73.

PHINIA (NYSE:PHIN) last released its 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 business 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%. Research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date was 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.