PHINIA Inc. (NYSE:PHIN) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of PHINIA Inc. (NYSE:PHIN) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,509 shares of the company’s stock after selling 1,791 shares during the period. Thrivent Financial for Lutherans’ holdings in PHINIA were worth $1,566,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after buying an additional 418 shares in the last quarter. KBC Group NV lifted its position in shares of PHINIA by 45.8% during the 4th quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after buying an additional 685 shares in the last quarter. AlphaQuest LLC acquired a new stake in PHINIA in the 4th quarter valued at $173,000. State of Michigan Retirement System purchased a new stake in PHINIA in the 4th quarter worth $203,000. Finally, Paloma Partners Management Co acquired a new position in PHINIA during the third quarter worth $258,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Price Performance

PHIN stock opened at $43.11 on Monday. PHINIA Inc. has a 52-week low of $36.10 and a 52-week high of $57.23. 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 $1.76 billion, a price-to-earnings ratio of 24.64 and a beta of 1.38. The business has a fifty day moving average of $47.92 and a two-hundred day moving average of $48.70.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The business had revenue of $833.00 million for the quarter, compared to analyst estimates of $811.94 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. As a group, research analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. PHINIA’s payout ratio is 61.71%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PHIN. UBS Group lifted their target price 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. Northland Securities began coverage on PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 target price on the stock. CL King began coverage on shares of PHINIA in a research report on Monday, March 24th. They set a “buy” rating and a $54.00 price target on the stock. Finally, Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a research note 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $55.50.

PHINIA Company 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.