PHINIA Inc. (NYSE:PHIN) Shares Bought by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC lifted its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 451,921 shares of the company's stock after acquiring an additional 24,725 shares during the period. PHINIA accounts for approximately 0.5% of Bridgeway Capital Management LLC's portfolio, making the stock its 22nd biggest holding. Bridgeway Capital Management LLC owned 1.07% of PHINIA worth $21,769,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PHIN. Balyasny Asset Management L.P. purchased a new stake in PHINIA in the 4th quarter worth approximately $342,000. BNP Paribas Financial Markets purchased a new stake in shares of PHINIA in the fourth quarter valued at $299,000. Algert Global LLC grew its position in shares of PHINIA by 14.0% in the fourth quarter. Algert Global LLC now owns 33,738 shares of the company's stock valued at $1,625,000 after purchasing an additional 4,146 shares during the period. Aristeia Capital L.L.C. increased its stake in PHINIA by 13.6% in the fourth quarter. Aristeia Capital L.L.C. now owns 5,789 shares of the company's stock valued at $279,000 after purchasing an additional 692 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in PHINIA by 14.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,034 shares of the company's stock worth $435,000 after buying an additional 1,118 shares during the period. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Stock Down 0.5 %

Shares of PHINIA stock traded down $0.20 during trading on Friday, reaching $41.75. The company had a trading volume of 413,573 shares, compared to its average volume of 599,149. 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 $36.25 and a fifty-two week high of $57.23. The firm's fifty day moving average is $41.76 and its 200-day moving average is $47.40. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 23.86 and a beta of 1.59.

PHINIA (NYSE:PHIN - Get Free Report) last released 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). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. During the same period in the prior year, the business earned $1.08 EPS. The company's quarterly revenue was down 7.8% on a year-over-year basis. On average, analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, February 28th. PHINIA's dividend payout ratio (DPR) is presently 61.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Northland Securities initiated coverage on shares of PHINIA in a research note on Thursday, January 30th. They set an "outperform" rating and a $61.00 price objective for the company. 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 note on Thursday, April 10th. CL King initiated coverage on shares of PHINIA in a research note on Monday, March 24th. They set a "buy" rating and a $54.00 price objective for the company. Bank of America assumed coverage on PHINIA in a research report on Thursday, April 10th. They issued a "buy" rating and a $53.00 target price on the stock. Finally, BNP Paribas downgraded PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PHINIA has a consensus rating of "Moderate Buy" and an average target price of $51.50.

Insider Activity

In other PHINIA news, CEO Brady D. Ericson bought 10,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were purchased at an average price of $39.73 per share, with a total value of $397,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 436,486 shares of the company's stock, valued at approximately $17,341,588.78. The trade was a 2.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company's stock.

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.