Maryland State Retirement & Pension System Decreases Stake in PHINIA Inc. (NYSE:PHIN)

Maryland State Retirement & Pension System decreased its stake in PHINIA Inc. (NYSE:PHIN) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,163 shares of the company’s stock after selling 587 shares during the period. Maryland State Retirement & Pension System’s holdings in PHINIA were worth $682,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in shares of PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after acquiring an additional 418 shares during the period. KBC Group NV grew its position in PHINIA by 45.8% during the 4th 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 last quarter. AlphaQuest LLC acquired a new position in PHINIA in the fourth quarter valued at $173,000. State of Michigan Retirement System purchased a new stake in shares of PHINIA in the fourth quarter valued at about $203,000. Finally, Paloma Partners Management Co acquired a new stake in shares of PHINIA during the third quarter worth about $258,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Trading Up 1.5 %

Shares of PHIN opened at $45.16 on Tuesday. The stock has a fifty day moving average of $48.44 and a two-hundred day moving average of $48.73. PHINIA Inc. has a fifty-two week low of $36.10 and a fifty-two week high of $57.23. The company has a market capitalization of $1.84 billion, a PE ratio of 25.81 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The firm had revenue of $833.00 million during the quarter, compared to analyst estimates of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. As a group, analysts forecast that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.27 dividend. The ex-dividend date was Friday, February 28th. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.39%. PHINIA’s dividend payout ratio (DPR) is 61.71%.

Wall Street Analyst Weigh In

PHIN has been the subject of several recent analyst reports. Northland Securities started coverage on PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price target on the stock. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. UBS Group increased their target price on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, CL King began coverage on PHINIA in a research note on Monday. They set a “buy” rating and a $54.00 price target on the stock. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, PHINIA currently has an average rating of “Buy” and a consensus target price of $55.50.

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.