Russell Investments Group Ltd. Sells 49,052 Shares of PHINIA Inc. (NYSE:PHIN)

Russell Investments Group Ltd. lessened its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 27.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,371 shares of the company's stock after selling 49,052 shares during the period. Russell Investments Group Ltd. owned 0.28% of PHINIA worth $4,010,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PHIN. Oakworth Capital Inc. purchased a new stake in shares of PHINIA during the third quarter valued at $27,000. Whittier Trust Co. acquired a new position in shares of PHINIA during the 3rd quarter worth about $29,000. Parkside Financial Bank & Trust grew its stake in PHINIA by 816.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 990 shares of the company's stock valued at $30,000 after acquiring an additional 882 shares in the last quarter. Truvestments Capital LLC purchased a new stake in PHINIA during the 3rd quarter valued at about $35,000. Finally, Fifth Third Bancorp purchased a new stake in shares of PHINIA in the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 90.94% of the company's stock.

Analyst Ratings Changes

Separately, Morgan Stanley began coverage on shares of PHINIA in a research report on Monday, March 11th. They set an "overweight" rating and a $50.00 price objective for the company.

PHINIA Price Performance

NYSE:PHIN traded up $0.74 during midday trading on Friday, hitting $43.68. 438,799 shares of the company were exchanged, compared to its average volume of 628,461. The company has a fifty day simple moving average of $38.26 and a 200 day simple moving average of $32.11. PHINIA Inc. has a fifty-two week low of $23.46 and a fifty-two week high of $43.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.71 and a quick ratio of 1.27.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.34. PHINIA had a net margin of 3.06% and a return on equity of 7.52%. The business had revenue of $863.00 million for the quarter, compared to the consensus estimate of $800.00 million. The company's revenue was up 3.4% on a year-over-year basis. Research analysts expect that PHINIA Inc. will post 4.05 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.00 annualized dividend and a yield of 2.29%.

PHINIA 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.