PHINIA Inc. (NYSE:PHIN) Stock Holdings Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 22.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,792 shares of the company's stock after acquiring an additional 16,363 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.21% of PHINIA worth $4,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Twinbeech Capital LP raised its holdings in shares of PHINIA by 672.9% during the 4th quarter. Twinbeech Capital LP now owns 91,640 shares of the company's stock valued at $4,414,000 after buying an additional 79,784 shares during the period. Two Sigma Advisers LP grew its position in PHINIA by 8.5% in the fourth quarter. Two Sigma Advisers LP now owns 12,800 shares of the company's stock valued at $617,000 after acquiring an additional 1,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PHINIA in the fourth quarter valued at approximately $144,000. Point72 Asset Management L.P. purchased a new stake in shares of PHINIA during the fourth quarter valued at approximately $2,633,000. Finally, Point72 Italy S.r.l. acquired a new position in shares of PHINIA during the fourth quarter worth $1,730,000. Institutional investors and hedge funds own 90.94% of the company's stock.

Insider Buying and Selling

In other PHINIA news, CEO Brady D. Ericson acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was acquired 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 in the company, valued at approximately $17,341,588.78. This represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meggan M. Walsh bought 1,400 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was bought at an average price of $42.71 per share, with a total value of $59,794.00. Following the completion of the purchase, the director now owns 7,492 shares of the company's stock, valued at $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PHIN shares. Morgan Stanley lowered their price target on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. BNP Paribas downgraded PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price for the company. in a research note on Wednesday, April 23rd. UBS Group reiterated a "neutral" rating and issued a $45.00 price target (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Bank of America increased their price target on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, CL King began coverage on PHINIA in a research note on Monday, March 24th. They set a "buy" rating and a $54.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.17.

PHINIA Stock Up 0.8%

Shares of PHIN traded up $0.32 during midday trading on Friday, hitting $42.80. The company had a trading volume of 350,811 shares, compared to its average volume of 587,300. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 24.46 and a beta of 1.55. The company's 50 day moving average price is $41.72 and its 200 day moving average price is $46.56. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last posted 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). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. During the same quarter last year, the business posted $1.08 earnings per share. The firm's revenue for the quarter was down 7.8% on a year-over-year basis. On average, equities research analysts predict that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Monday, June 2nd. PHINIA's dividend payout ratio is currently 61.36%.

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.