Barclays PLC Increases Position in PHINIA Inc. (NYSE:PHIN)

Barclays PLC boosted its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 14.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,529 shares of the company's stock after buying an additional 10,724 shares during the period. Barclays PLC owned approximately 0.20% of PHINIA worth $4,023,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its position in shares of PHINIA by 5.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,870 shares of the company's stock worth $331,000 after purchasing an additional 373 shares during the period. Smartleaf Asset Management LLC lifted its stake in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after acquiring an additional 418 shares in the last quarter. KBC Group NV boosted its holdings in PHINIA by 45.8% during the 4th quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after acquiring an additional 685 shares during the period. Principal Financial Group Inc. increased its stake in PHINIA by 0.4% during the fourth quarter. Principal Financial Group Inc. now owns 228,584 shares of the company's stock worth $11,011,000 after purchasing an additional 842 shares during the period. Finally, Sterling Capital Management LLC lifted its position in shares of PHINIA by 11.4% during the fourth quarter. Sterling Capital Management LLC now owns 11,408 shares of the company's stock worth $550,000 after purchasing an additional 1,171 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PHIN. Northland Securities started coverage on shares of PHINIA in a report on Thursday, January 30th. They set an "outperform" rating and a $61.00 target price on the stock. Bank of America initiated coverage on PHINIA in a report on Thursday, April 10th. They set a "buy" rating and a $53.00 price target on the stock. BNP Paribas downgraded 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. CL King assumed coverage on shares of PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 price target for the company. Finally, UBS Group reaffirmed a "neutral" rating and set a $45.00 price objective (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Three 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.50.

Insider Transactions at PHINIA

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

PHINIA Stock Up 3.9 %

Shares of NYSE PHIN traded up $1.59 during mid-day trading on Friday, reaching $42.02. The company had a trading volume of 197,551 shares, compared to its average volume of 603,151. The firm has a 50 day simple moving average of $42.60 and a two-hundred day simple moving average of $47.56. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $57.23. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.67 billion, a P/E ratio of 24.11 and a beta of 1.56.

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

PHINIA Increases Dividend

The company 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. This is an increase from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Friday, February 28th. PHINIA's dividend payout ratio is presently 61.36%.

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.