Covalis Capital LLP Has $12.69 Million Holdings in PHINIA Inc. (NYSE:PHIN)

Covalis Capital LLP boosted its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 263,466 shares of the company's stock after purchasing an additional 12,106 shares during the quarter. PHINIA makes up approximately 1.9% of Covalis Capital LLP's holdings, making the stock its 21st largest holding. Covalis Capital LLP owned about 0.63% of PHINIA worth $12,691,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. First Trust Advisors LP grew its position in shares of PHINIA by 32.6% during the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after buying an additional 458,650 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock worth $98,653,000 after purchasing an additional 253,345 shares during the period. Brandywine Global Investment Management LLC bought a new stake in shares of PHINIA in the 4th quarter worth approximately $6,874,000. American Century Companies Inc. grew its stake in PHINIA by 8.5% during the 4th quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock worth $68,120,000 after buying an additional 110,931 shares during the last quarter. Finally, Barclays PLC lifted its stake in PHINIA by 336.2% in the third quarter. Barclays PLC now owns 72,805 shares of the company's stock valued at $3,351,000 after buying an additional 56,114 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. CL King assumed coverage on PHINIA in a report on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective for the company. UBS Group reiterated 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. Bank of America assumed coverage on PHINIA in a report on Thursday, April 10th. They set a "buy" rating and a $53.00 price target on the stock. Finally, BNP Paribas downgraded shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective for the company. in a report on Wednesday. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $51.50.

PHINIA Stock Performance

Shares of PHINIA stock traded up $0.93 during midday trading on Thursday, hitting $43.61. The company had a trading volume of 171,376 shares, compared to its average volume of 571,636. The stock has a market cap of $1.74 billion, a PE ratio of 24.92 and a beta of 1.56. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $57.23. The business's 50 day simple moving average is $43.91 and its two-hundred day simple moving average is $47.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The company had revenue of $833.00 million for the quarter, compared to analyst estimates of $811.94 million. As a group, equities analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. PHINIA's dividend payout ratio is presently 61.71%.

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.