PHINIA Inc. (NYSE:PHIN) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its position in shares of PHINIA Inc. (NYSE:PHIN) by 0.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 763,037 shares of the company’s stock after selling 1,216 shares during the period. Charles Schwab Investment Management Inc.’s holdings in PHINIA were worth $36,755,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new position in PHINIA during the third quarter worth $1,073,000. Royce & Associates LP acquired a new position in PHINIA during the 3rd quarter worth $695,000. Swedbank AB raised its holdings in PHINIA by 161.2% in the third quarter. Swedbank AB now owns 66,752 shares of the company’s stock valued at $3,073,000 after acquiring an additional 41,200 shares in the last quarter. Foundry Partners LLC acquired a new stake in shares of PHINIA in the 3rd quarter valued at $7,911,000. Finally, MetLife Investment Management LLC boosted its position in shares of PHINIA by 115.3% during the 3rd quarter. MetLife Investment Management LLC now owns 24,790 shares of the company’s stock worth $1,141,000 after acquiring an additional 13,277 shares in the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Stock Performance

NYSE PHIN opened at $42.95 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 24.54 and a beta of 1.38. PHINIA Inc. has a fifty-two week low of $36.10 and a fifty-two week high of $57.23. The business has a fifty day moving average of $48.89 and a 200-day moving average of $48.87.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The business had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. As a group, analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal 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 paid a dividend of $0.27 per share. The ex-dividend date was Friday, February 28th. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.51%. PHINIA’s dividend payout ratio is currently 61.71%.

Wall Street Analysts Forecast Growth

PHIN has been the subject of a number of research reports. Northland Securities began coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price target for the company. UBS Group increased their target price on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th.

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.