Algert Global LLC Buys 4,146 Shares of PHINIA Inc. (NYSE:PHIN)

Algert Global LLC increased its position in PHINIA Inc. (NYSE:PHIN) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,738 shares of the company’s stock after purchasing an additional 4,146 shares during the period. Algert Global LLC’s holdings in PHINIA were worth $1,625,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PHIN. Smartleaf Asset Management LLC lifted its holdings in shares of PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after purchasing an additional 418 shares in the last quarter. KBC Group NV boosted its holdings 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 acquiring an additional 685 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of PHINIA in the fourth quarter worth approximately $173,000. State of Michigan Retirement System purchased a new position in shares of PHINIA during the fourth quarter valued at approximately $203,000. Finally, Optimize Financial Inc bought a new position in PHINIA during the fourth quarter valued at approximately $206,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on PHIN shares. 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. Bank of America assumed coverage on PHINIA in a research report on Thursday, April 10th. They set a “buy” rating and a $53.00 price objective for the company. CL King assumed coverage on PHINIA in a research report on Monday, March 24th. They issued a “buy” rating and a $54.00 target price on the stock. Northland Securities started coverage on shares of PHINIA in a research report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target for the company. Finally, Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PHINIA presently has a consensus rating of “Moderate Buy” and an average target price of $51.50.

PHINIA Stock Down 0.5 %

PHIN stock opened at $41.75 on Friday. The business’s 50-day moving average price is $41.76 and its 200-day moving average price is $47.40. The stock has a market cap of $1.66 billion, a P/E ratio of 23.86 and a beta of 1.59. PHINIA Inc. has a twelve month low of $36.25 and a twelve month 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.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). The firm had revenue of $796.00 million during the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 earnings per share. On average, equities research analysts forecast that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued 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 dividend on an annualized basis and a yield of 2.59%. PHINIA’s dividend payout ratio (DPR) is currently 61.36%.

Insider Transactions at PHINIA

In other PHINIA news, CEO Brady D. Ericson purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average cost of $39.73 per share, with a total value of $397,300.00. Following the acquisition, the chief executive officer now owns 436,486 shares in the company, valued at approximately $17,341,588.78. This trade represents a 2.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

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.