Sterling Capital Management LLC Acquires 1,171 Shares of PHINIA Inc. (NYSE:PHIN)

Sterling Capital Management LLC increased its stake in PHINIA Inc. (NYSE:PHIN) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,408 shares of the company’s stock after acquiring an additional 1,171 shares during the quarter. Sterling Capital Management LLC’s holdings in PHINIA were worth $550,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PHIN. Smartleaf Asset Management LLC boosted its holdings in PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after acquiring an additional 418 shares in the last quarter. KBC Group NV raised its position in shares of PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock worth $105,000 after purchasing an additional 685 shares during the period. AlphaQuest LLC bought a new position in shares of PHINIA in the 4th quarter worth $173,000. State of Michigan Retirement System acquired a new stake in PHINIA in the 4th quarter valued at $203,000. Finally, Magnetar Financial LLC acquired a new position in PHINIA during the fourth quarter worth $264,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PHIN. Northland Securities initiated coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price target on the stock. Bank of America began coverage on PHINIA in a report on Thursday, April 10th. They issued a “buy” rating and a $53.00 target price on the stock. Northland Capmk raised PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. CL King started coverage on PHINIA in a research note on Monday, March 24th. They set a “buy” rating and a $54.00 price objective on the stock. Finally, UBS Group reiterated a “neutral” rating and issued a $45.00 target price (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

PHINIA Stock Up 0.9 %

PHIN stock opened at $41.24 on Friday. The stock has a 50-day simple moving average of $44.57 and a two-hundred day simple moving average of $47.83. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23. The firm has a market capitalization of $1.64 billion, a PE ratio of 23.56 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 (NYSE:PHIN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $811.94 million. On average, equities analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Friday, February 28th. This is an increase from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio (DPR) 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.