Flputnam Investment Management Co. Has $417,000 Stock Position in PHINIA Inc. (NYSE:PHIN)

Flputnam Investment Management Co. lessened its stake in PHINIA Inc. (NYSE:PHIN) by 14.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,775 shares of the company’s stock after selling 2,340 shares during the quarter. Flputnam Investment Management Co.’s holdings in PHINIA were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHIN. Louisiana State Employees Retirement System acquired a new stake in shares of PHINIA in the 4th quarter valued at $709,000. Allspring Global Investments Holdings LLC raised its holdings in PHINIA by 29,200.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,344 shares of the company’s stock worth $71,000 after purchasing an additional 2,336 shares during the last quarter. International Assets Investment Management LLC lifted its position in PHINIA by 2,710.3% during the 4th quarter. International Assets Investment Management LLC now owns 2,726 shares of the company’s stock valued at $90,000 after purchasing an additional 2,629 shares during the period. Oak Thistle LLC bought a new position in shares of PHINIA in the 4th quarter valued at about $1,294,000. Finally, Financial Enhancement Group LLC boosted its stake in shares of PHINIA by 3.6% in the 4th quarter. Financial Enhancement Group LLC now owns 33,289 shares of the company’s stock valued at $946,000 after purchasing an additional 1,149 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Trading Up 2.3 %

NYSE PHIN opened at $37.27 on Friday. PHINIA Inc. has a 12 month low of $23.46 and a 12 month high of $40.12. The stock has a 50-day simple moving average of $35.82 and a 200 day simple moving average of $30.51. The company has a current ratio of 1.68, a quick ratio of 1.25 and a debt-to-equity ratio of 0.38.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.06. The firm had revenue of $882.00 million for the quarter, compared to the consensus estimate of $900.00 million. During the same period in the previous year, the business earned $1.75 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that PHINIA Inc. will post 4.05 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, February 23rd.

Wall Street Analyst Weigh In

Separately, Morgan Stanley started coverage on shares of PHINIA in a report on Monday, March 11th. They issued an “overweight” rating and a $50.00 price objective on the stock.

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.