Vanguard Group Inc. Decreases Stake in PHINIA Inc. (NYSE:PHIN)

Vanguard Group Inc. lessened its stake in PHINIA Inc. (NYSE:PHIN) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,305,726 shares of the company’s stock after selling 6,090 shares during the quarter. Vanguard Group Inc. owned 0.11% of PHINIA worth $160,710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in PHINIA by 58.2% in the fourth quarter. Pacer Advisors Inc. now owns 2,350,167 shares of the company’s stock valued at $71,187,000 after buying an additional 865,016 shares in the last quarter. LSV Asset Management raised its holdings in PHINIA by 5.8% during the fourth quarter. LSV Asset Management now owns 768,510 shares of the company’s stock worth $23,278,000 after purchasing an additional 42,080 shares during the last quarter. Norges Bank purchased a new stake in PHINIA during the fourth quarter worth $16,896,000. Boston Partners grew its holdings in PHINIA by 1,067.0% in the fourth quarter. Boston Partners now owns 463,710 shares of the company’s stock valued at $13,975,000 after purchasing an additional 423,974 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of PHINIA by 4.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 435,170 shares of the company’s stock valued at $13,181,000 after buying an additional 18,500 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley assumed coverage on shares of PHINIA in a research note on Monday, March 11th. They issued an “overweight” rating and a $50.00 price objective on the stock.

Insiders Place Their Bets

In related news, VP Robert Boyle sold 1,828 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.77, for a total transaction of $80,011.56. Following the transaction, the vice president now owns 36,337 shares of the company’s stock, valued at $1,590,470.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

PHINIA Stock Up 2.6 %

Shares of PHIN opened at $40.10 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.71 and a quick ratio of 1.27. PHINIA Inc. has a 1-year low of $23.46 and a 1-year high of $46.08. The firm has a 50 day simple moving average of $42.22 and a 200-day simple moving average of $36.46.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.34. The business had revenue of $863.00 million for the quarter, compared to the consensus estimate of $800.00 million. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. PHINIA’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that PHINIA Inc. will post 4.05 earnings per share for the current year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.49%.

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.