Vanguard Group Inc. Sells 214,358 Shares of PHINIA Inc. (NYSE:PHIN)

Vanguard Group Inc. trimmed its position in PHINIA Inc. (NYSE:PHIN) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,981,021 shares of the company’s stock after selling 214,358 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of PHINIA worth $239,936,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of PHINIA by 8.5% in the 4th quarter. American Century Companies Inc. now owns 1,414,155 shares of the company’s stock valued at $68,120,000 after purchasing an additional 110,931 shares in the last quarter. Wellington Management Group LLP boosted its stake in PHINIA by 1.2% in the third quarter. Wellington Management Group LLP now owns 333,395 shares of the company’s stock valued at $15,346,000 after buying an additional 3,804 shares in the last quarter. Empowered Funds LLC grew its position in PHINIA by 5.1% in the fourth quarter. Empowered Funds LLC now owns 239,821 shares of the company’s stock valued at $11,552,000 after acquiring an additional 11,625 shares during the last quarter. Principal Financial Group Inc. raised its stake in PHINIA by 0.4% during the fourth quarter. Principal Financial Group Inc. now owns 228,584 shares of the company’s stock worth $11,011,000 after acquiring an additional 842 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of PHINIA by 7.2% in the third quarter. FMR LLC now owns 86,817 shares of the company’s stock worth $3,996,000 after acquiring an additional 5,828 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. Northland Securities started coverage on shares of PHINIA in a research note on Thursday, January 30th. They set an “outperform” rating and a $61.00 target price on the stock. CL King started coverage on PHINIA in a research note on Monday, March 24th. They issued a “buy” rating and a $54.00 price target for the company. Finally, UBS Group upped their target price on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $55.50.

PHINIA Stock Down 4.2 %

Shares of PHIN opened at $38.03 on Friday. The company has a market capitalization of $1.55 billion, a PE ratio of 21.73 and a beta of 1.55. The stock’s 50-day moving average price is $46.98 and its two-hundred day moving average price is $48.52. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a 12 month low of $36.10 and a 12 month high of $57.23.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company 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%. On average, analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.84%. PHINIA’s dividend payout ratio is 61.71%.

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.