Wellington Management Group LLP Sells 951 Shares of PHINIA Inc. (NYSE:PHIN)

Wellington Management Group LLP trimmed its stake in PHINIA Inc. (NYSE:PHIN) by 0.3% in the 4th quarter, HoldingsChannel reports. The fund owned 332,444 shares of the company’s stock after selling 951 shares during the quarter. Wellington Management Group LLP’s holdings in PHINIA were worth $16,014,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its stake in PHINIA by 149.3% in 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 during the last quarter. KBC Group NV raised its stake in shares of 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 acquiring an additional 685 shares in the last quarter. AlphaQuest LLC bought a new position in shares of PHINIA during the 4th quarter worth approximately $173,000. State of Michigan Retirement System purchased a new stake in PHINIA during the fourth quarter valued at approximately $203,000. Finally, Magnetar Financial LLC purchased a new position in PHINIA in the fourth quarter worth $264,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Stock Performance

NYSE PHIN opened at $37.72 on Wednesday. The firm has a market capitalization of $1.54 billion, a P/E ratio of 21.55 and a beta of 1.56. The stock has a 50-day simple moving average of $46.25 and a two-hundred day simple moving average of $48.28. 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 Inc. has a fifty-two week low of $36.10 and a fifty-two week high of $57.23.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The company 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%. On average, equities analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.27 dividend. This is a boost from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a yield of 2.86%. PHINIA’s dividend payout ratio is presently 61.71%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Northland Capmk upgraded PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. CL King initiated coverage on PHINIA in a research note on Monday, March 24th. They issued a “buy” rating and a $54.00 price target for the company. UBS Group boosted their price target on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Northland Securities started coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target 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.