Easterly Investment Partners LLC Sells 25,320 Shares of PHINIA Inc. (NYSE:PHIN)

Easterly Investment Partners LLC cut its holdings in PHINIA Inc. (NYSE:PHIN) by 72.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,470 shares of the company’s stock after selling 25,320 shares during the quarter. Easterly Investment Partners LLC’s holdings in PHINIA were worth $456,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PHIN. Quantinno Capital Management LP grew its stake in shares of PHINIA by 2.4% in the third quarter. Quantinno Capital Management LP now owns 14,637 shares of the company’s stock worth $674,000 after purchasing an additional 345 shares during the last quarter. Smartleaf Asset Management LLC grew its stake 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 buying an additional 418 shares during the period. KBC Group NV increased its holdings in shares of PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after acquiring an additional 685 shares in the last quarter. Principal Financial Group Inc. increased its stake in PHINIA by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 228,584 shares of the company’s stock valued at $11,011,000 after purchasing an additional 842 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of PHINIA by 0.3% during the fourth quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company’s stock worth $27,054,000 after acquiring an additional 1,603 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PHIN shares. CL King assumed coverage on PHINIA in a research report on Monday. They issued a “buy” rating and a $54.00 price target for the company. Northland Capmk upgraded PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Northland Securities initiated coverage on shares of PHINIA in a research report on Thursday, January 30th. They set an “outperform” rating and a $61.00 target price for the company. Finally, UBS Group raised their price target on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PHINIA currently has an average rating of “Buy” and a consensus price target of $55.50.

PHINIA Stock Performance

Shares of PHIN opened at $44.26 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a 12-month low of $36.10 and a 12-month high of $57.23. The company has a market cap of $1.81 billion, a PE ratio of 25.29 and a beta of 1.38. The stock has a 50-day moving average price of $48.09 and a 200-day moving average price of $48.68.

PHINIA (NYSE:PHIN) last announced 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). The firm had revenue of $833.00 million for the quarter, compared to the consensus estimate of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. As a group, equities analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 2.44%. This is an increase from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s payout ratio is currently 61.71%.

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.