First Trust Advisors LP Has $89.93 Million Position in PHINIA Inc. (NYSE:PHIN)

First Trust Advisors LP lifted its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,866,894 shares of the company's stock after acquiring an additional 458,650 shares during the quarter. First Trust Advisors LP owned approximately 4.44% of PHINIA worth $89,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after buying an additional 418 shares in the last quarter. KBC Group NV grew its position in shares of PHINIA by 45.8% in the 4th quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after acquiring an additional 685 shares during the period. AlphaQuest LLC acquired a new position in shares of PHINIA during the 4th quarter worth about $173,000. State of Michigan Retirement System bought a new stake in shares of PHINIA in the 4th quarter valued at about $203,000. Finally, Optimize Financial Inc bought a new position in PHINIA during the fourth quarter worth about $206,000. Institutional investors own 90.94% of the company's stock.

PHINIA Price Performance

Shares of NYSE PHIN traded down $3.16 during midday trading on Friday, reaching $40.85. The company's stock had a trading volume of 873,165 shares, compared to its average volume of 609,627. 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 company has a market cap of $1.63 billion, a P/E ratio of 23.34 and a beta of 1.56. The business's 50 day moving average price is $43.50 and its two-hundred day moving average price is $47.69. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share 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. On average, analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid 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 2.64%. The ex-dividend date of this dividend was Friday, February 28th. PHINIA's dividend payout ratio (DPR) is presently 61.71%.

Analyst Ratings Changes

PHIN has been the topic of several research analyst reports. Northland Capmk upgraded PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. Bank of America began coverage on shares of PHINIA in a research report on Thursday, April 10th. They set a "buy" rating and a $53.00 price objective for the company. CL King initiated coverage on shares of PHINIA in a research report on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective on the stock. Northland Securities initiated coverage on shares of PHINIA in a report on Thursday, January 30th. They set an "outperform" rating and a $61.00 target price for the company. Finally, 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. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, PHINIA currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.50.

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.