19,673 Shares in PHINIA Inc. (NYSE:PHIN) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 19,673 shares of the company's stock, valued at approximately $948,000.

Other hedge funds have also added to or reduced their stakes in the company. Brandywine Global Investment Management LLC purchased a new position in shares of PHINIA in the 4th quarter worth approximately $6,874,000. Barclays PLC raised its holdings in shares of PHINIA by 336.2% in the 3rd quarter. Barclays PLC now owns 72,805 shares of the company's stock worth $3,351,000 after purchasing an additional 56,114 shares during the period. Empowered Funds LLC raised its holdings in shares of PHINIA by 5.1% in the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company's stock worth $11,552,000 after purchasing an additional 11,625 shares during the period. Alliancebernstein L.P. raised its holdings in shares of PHINIA by 4.2% in the 4th quarter. Alliancebernstein L.P. now owns 60,963 shares of the company's stock worth $2,937,000 after purchasing an additional 2,445 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of PHINIA by 0.4% in the 4th 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. Institutional investors and hedge funds own 90.94% of the company's stock.

Wall Street Analysts Forecast Growth

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

PHINIA Stock Up 0.8%

PHIN traded up $0.32 on Friday, hitting $42.80. The company had a trading volume of 350,811 shares, compared to its average volume of 587,300. 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 Inc. has a 52-week low of $36.25 and a 52-week high of $57.23. The stock has a fifty day simple moving average of $41.72 and a 200-day simple moving average of $46.65. The firm has a market capitalization of $1.70 billion, a P/E ratio of 24.46 and a beta of 1.55.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $796.00 million during the quarter, compared to analysts' expectations of $813.24 million. During the same quarter last year, the business earned $1.08 earnings per share. The business's quarterly revenue was down 7.8% on a year-over-year basis. As a group, equities analysts expect that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

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

Insider Buying and Selling at PHINIA

In other PHINIA news, CEO Brady D. Ericson bought 10,000 shares of the firm's stock in a transaction 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 completion of the purchase, the chief executive officer now owns 436,486 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. Also, Director Meggan M. Walsh bought 1,400 shares of the firm's stock in a transaction on 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 purchase, the director now directly owns 7,492 shares of the company's stock, valued at approximately $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.

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.