OneDigital Investment Advisors LLC Takes $432,000 Position in PHINIA Inc. (NYSE:PHIN)

OneDigital Investment Advisors LLC acquired a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,974 shares of the company's stock, valued at approximately $432,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brandywine Global Investment Management LLC acquired a new stake in PHINIA during the fourth quarter worth approximately $6,874,000. Jane Street Group LLC grew its position in shares of PHINIA by 297.0% during the 3rd quarter. Jane Street Group LLC now owns 24,516 shares of the company's stock worth $1,128,000 after buying an additional 18,341 shares during the period. Barclays PLC increased its stake in shares of PHINIA by 336.2% in the 3rd quarter. Barclays PLC now owns 72,805 shares of the company's stock valued at $3,351,000 after acquiring an additional 56,114 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of PHINIA in the 3rd quarter valued at $527,000. Finally, Ritholtz Wealth Management boosted its stake in PHINIA by 50.8% during the fourth quarter. Ritholtz Wealth Management now owns 28,046 shares of the company's stock worth $1,351,000 after acquiring an additional 9,442 shares in the last quarter. Institutional investors own 90.94% of the company's stock.

PHINIA Stock Performance

Shares of NYSE PHIN traded up $1.44 during midday trading on Friday, reaching $41.87. The company's stock had a trading volume of 721,466 shares, compared to its average volume of 604,140. The stock has a market capitalization of $1.67 billion, a P/E ratio of 23.93 and a beta of 1.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The firm has a 50 day moving average price of $42.44 and a 200-day moving average price of $47.55. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last issued 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). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $796.00 million during the quarter, compared to analysts' expectations of $813.24 million. During the same period last year, the firm posted $1.08 earnings per share. PHINIA's quarterly revenue was down 7.8% compared to the same quarter last year. As a group, equities analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.27 dividend. This is an increase from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Friday, February 28th. PHINIA's dividend payout ratio (DPR) is currently 61.36%.

Insider Buying and Selling at PHINIA

In related news, CEO Brady D. Ericson acquired 10,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was acquired at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the acquisition, the chief executive officer now owns 436,486 shares of the company's stock, valued at $17,341,588.78. This trade represents a 2.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

PHIN has been the topic of several research reports. UBS Group reiterated a "neutral" rating and set a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Northland Securities started coverage on PHINIA in a research note on Thursday, January 30th. They set an "outperform" rating and a $61.00 price target on the stock. BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective for the company. in a research note on Wednesday, April 23rd. Northland Capmk raised PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. Finally, CL King initiated coverage on shares of PHINIA in a research report on Monday, March 24th. They issued a "buy" rating and a $54.00 price target for the company. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $51.50.

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.