PHINIA Inc. (NYSE:PHIN) Shares Purchased by Barclays PLC

Barclays PLC boosted its stake in shares of PHINIA Inc. (NYSE:PHIN) by 14.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,529 shares of the company’s stock after buying an additional 10,724 shares during the period. Barclays PLC’s holdings in PHINIA were worth $4,023,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC purchased a new stake in shares of PHINIA in the fourth quarter valued at about $6,874,000. Jane Street Group LLC increased its holdings in shares of PHINIA by 297.0% during the 3rd quarter. Jane Street Group LLC now owns 24,516 shares of the company’s stock worth $1,128,000 after buying an additional 18,341 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of PHINIA during the 3rd quarter valued at approximately $527,000. Ritholtz Wealth Management lifted its holdings in PHINIA by 50.8% in the fourth quarter. Ritholtz Wealth Management now owns 28,046 shares of the company’s stock valued at $1,351,000 after acquiring an additional 9,442 shares during the last quarter. Finally, 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 worth $11,552,000 after acquiring an additional 11,625 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

PHINIA Price Performance

PHINIA stock opened at $40.85 on Monday. The company’s 50 day moving average is $43.50 and its two-hundred day moving average is $47.73. The firm has a market cap of $1.63 billion, a PE ratio of 23.34 and a beta of 1.56. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $57.23.

PHINIA (NYSE:PHIN) last released its earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). The company had revenue of $796.00 million during the quarter, compared to analysts’ expectations of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. On average, research analysts expect that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.27 dividend. This is a boost from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a yield of 2.64%. PHINIA’s dividend payout ratio (DPR) is 61.71%.

Wall Street Analyst Weigh In

PHIN has been the topic of several recent analyst reports. 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 on the stock. UBS Group reaffirmed a “neutral” rating and issued a $45.00 target price (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. Northland Securities began coverage on shares of PHINIA in a research report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price objective for the company. Finally, BNP Paribas lowered PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research report on Wednesday, April 23rd. Three analysts have 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.50.

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.