Renaissance Technologies LLC Has $1.45 Million Stake in PHINIA Inc. (NYSE:PHIN)

Renaissance Technologies LLC trimmed its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 43.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 30,100 shares of the company's stock after selling 23,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.07% of PHINIA worth $1,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Brandywine Global Investment Management LLC acquired a new position in PHINIA during the 4th quarter valued at about $6,874,000. Jane Street Group LLC boosted its position in shares of PHINIA by 297.0% during the third quarter. Jane Street Group LLC now owns 24,516 shares of the company's stock worth $1,128,000 after buying an additional 18,341 shares during the period. Barclays PLC grew its holdings in 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 buying an additional 56,114 shares in the last quarter. Tidal Investments LLC acquired a new stake in PHINIA in the 3rd quarter valued at approximately $527,000. Finally, Ritholtz Wealth Management raised its stake in PHINIA by 50.8% during the 4th quarter. Ritholtz Wealth Management now owns 28,046 shares of the company's stock valued at $1,351,000 after acquiring an additional 9,442 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Price Performance

Shares of PHIN traded up $0.38 during mid-day trading on Thursday, hitting $40.53. The company's stock had a trading volume of 339,824 shares, compared to its average volume of 605,552. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 23.16 and a beta of 1.56. The firm has a 50-day moving average price of $42.80 and a 200 day moving average price of $47.60. 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 (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.10). The company had revenue of $796.00 million during the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. PHINIA's quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 EPS. On average, research analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.66%. This is an increase from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. PHINIA's dividend payout ratio is currently 61.36%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PHIN shares. UBS Group reissued a "neutral" rating and issued a $45.00 price target (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. CL King assumed coverage on shares of PHINIA in a research report on Monday, March 24th. They issued a "buy" rating and a $54.00 target price for the company. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. Northland Securities assumed coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target for the company. Finally, Bank of America began coverage on shares of PHINIA in a research note on Thursday, April 10th. They set a "buy" rating and a $53.00 price objective on the stock. Three equities 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.50.

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.