Price T Rowe Associates Inc. MD Has $5.78 Million Position in PHINIA Inc. (NYSE:PHIN)

Price T Rowe Associates Inc. MD raised its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,910 shares of the company's stock after buying an additional 17,598 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.29% of PHINIA worth $5,777,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

PHIN has been the subject of several analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $45.00 price objective (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. CL King initiated coverage on shares of PHINIA in a research note on Monday, March 24th. They set a "buy" rating and a $54.00 price objective on the stock. Bank of America assumed coverage on shares of PHINIA in a report on Thursday, April 10th. They set a "buy" rating and a $53.00 price target for the company. Finally, BNP Paribas cut shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a research note on Wednesday, April 23rd. Three investment 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.50.

Insider Buying and Selling at PHINIA

In other PHINIA news, CEO Brady D. Ericson bought 10,000 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $39.73 per share, for a total transaction 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 trade represents a 2.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company's stock.

PHINIA Stock Performance

NYSE PHIN opened at $41.87 on Friday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 23.93 and a beta of 1.59. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23. The stock has a fifty day simple moving average of $42.44 and a 200 day simple moving average of $47.55. 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 (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). The company had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. PHINIA's revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.08 earnings per share. Sell-side analysts expect that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.27 dividend. This is a positive change from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a yield of 2.58%. PHINIA's payout ratio is presently 61.36%.

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.

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