Ameriprise Financial Inc. Cuts Stake in PHINIA Inc. (NYSE:PHIN)

Ameriprise Financial Inc. lessened its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 208,298 shares of the company's stock after selling 12,244 shares during the period. Ameriprise Financial Inc. owned 0.50% of PHINIA worth $10,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PHIN. Algert Global LLC boosted its holdings in shares of PHINIA by 14.0% during the fourth quarter. Algert Global LLC now owns 33,738 shares of the company's stock worth $1,625,000 after acquiring an additional 4,146 shares during the period. Aristeia Capital L.L.C. boosted its stake in PHINIA by 13.6% in the 4th 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 period. Mercer Global Advisors Inc. ADV grew its holdings in PHINIA by 14.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,034 shares of the company's stock valued at $435,000 after buying an additional 1,118 shares in the last quarter. Jane Street Group LLC increased its position in PHINIA by 426.0% during the 4th quarter. Jane Street Group LLC now owns 128,966 shares of the company's stock worth $6,212,000 after buying an additional 104,450 shares during the period. Finally, Ion Asset Management Ltd. lifted its holdings in shares of PHINIA by 7.8% during the fourth quarter. Ion Asset Management Ltd. now owns 639,000 shares of the company's stock worth $30,781,000 after buying an additional 46,316 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Price Performance

Shares of PHINIA stock traded down $0.04 during midday trading on Friday, hitting $42.81. 373,048 shares of the company traded hands, compared to its average volume of 591,458. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 24.46 and a beta of 1.59. 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 firm's fifty day moving average price is $41.95 and its 200-day moving average price is $47.23. 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 announced its quarterly 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 during the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm's revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. As a group, sell-side analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.27 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.52%. PHINIA's dividend payout ratio (DPR) is presently 61.36%.

Insider Transactions at PHINIA

In other PHINIA news, CEO Brady D. Ericson purchased 10,000 shares of the 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 acquisition, the chief executive officer now directly owns 436,486 shares in the company, valued at approximately $17,341,588.78. The trade was a 2.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Meggan M. Walsh acquired 1,400 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average cost of $42.71 per share, with a total value of $59,794.00. Following the acquisition, the director now directly owns 7,492 shares of the company's stock, valued at $319,983.32. This represents a 22.98% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PHIN shares. CL King assumed coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 price target on the stock. BNP Paribas lowered shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price on the stock. in a research report on Wednesday, April 23rd. Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Morgan Stanley cut their price target on PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, Bank of America raised their price objective on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Three investment 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 company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.17.

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.