Ancora Advisors LLC Reduces Stock Position in PHINIA Inc. (NYSE:PHIN)

Ancora Advisors LLC cut its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 37.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,450 shares of the company's stock after selling 47,250 shares during the quarter. Ancora Advisors LLC owned approximately 0.19% of PHINIA worth $3,875,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after purchasing an additional 418 shares in the last quarter. KBC Group NV lifted its position in PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock worth $105,000 after buying an additional 685 shares in the last quarter. AlphaQuest LLC acquired a new position in PHINIA during the fourth quarter worth $173,000. State of Michigan Retirement System purchased a new stake in PHINIA in the 4th quarter valued at $203,000. Finally, Optimize Financial Inc acquired a new stake in shares of PHINIA in the 4th quarter worth $206,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PHINIA

In related news, CEO Brady D. Ericson purchased 10,000 shares of PHINIA stock in a transaction on Wednesday, April 30th. The shares were bought at an average price of $39.73 per share, with a total value of $397,300.00. Following the transaction, the chief executive officer now directly owns 436,486 shares of the company's stock, valued at approximately $17,341,588.78. This trade represents a 2.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company's stock.

PHINIA Trading Down 0.2 %

Shares of NYSE PHIN traded down $0.07 during trading on Friday, reaching $41.88. The stock had a trading volume of 116,810 shares, compared to its average volume of 597,925. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. The company has a market cap of $1.67 billion, a P/E ratio of 23.93 and a beta of 1.59. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23. The business's 50-day moving average price is $41.84 and its 200-day moving average price is $47.43.

PHINIA (NYSE:PHIN - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. During the same period in the prior year, the firm earned $1.08 earnings per share. The business's revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

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

Analysts Set New Price Targets

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

About PHINIA

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.