LSV Asset Management Has $40.09 Million Stock Position in PHINIA Inc. (NYSE:PHIN)

LSV Asset Management increased its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 6.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 832,236 shares of the company's stock after acquiring an additional 46,919 shares during the quarter. LSV Asset Management owned approximately 1.98% of PHINIA worth $40,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after buying an additional 418 shares during the period. KBC Group NV grew its position in PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after purchasing an additional 685 shares in the last quarter. AlphaQuest LLC purchased a new stake in PHINIA in the 4th quarter worth approximately $173,000. State of Michigan Retirement System purchased a new position in shares of PHINIA during the 4th quarter valued at $203,000. Finally, Magnetar Financial LLC acquired a new position in shares of PHINIA in the fourth quarter worth $264,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America assumed coverage on PHINIA in a research report on Thursday, April 10th. They issued a "buy" rating and a $53.00 target price on the stock. UBS Group reissued a "neutral" rating and issued a $45.00 target price (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. CL King assumed coverage on PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 target price on the stock. Finally, Northland Securities began coverage on PHINIA in a report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PHINIA has an average rating of "Moderate Buy" and a consensus price target of $52.60.

PHINIA Stock Performance

NYSE PHIN traded up $0.63 during trading on Thursday, hitting $41.50. The company's stock had a trading volume of 165,295 shares, compared to its average volume of 609,214. PHINIA Inc. has a 52 week low of $36.23 and a 52 week high of $57.23. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.65 billion, a P/E ratio of 23.71 and a beta of 1.56. The firm has a 50 day moving average price of $44.73 and a 200 day moving average price of $47.86.

PHINIA (NYSE:PHIN - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $811.94 million. Equities research analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.27 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from PHINIA's previous quarterly dividend of $0.25. PHINIA's payout ratio is 61.71%.

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.