XTX Topco Ltd Takes Position in PHINIA Inc. (NYSE:PHIN)

XTX Topco Ltd acquired a new stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,585 shares of the company's stock, valued at approximately $943,000.

Several other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in shares of PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after acquiring an additional 418 shares during the last quarter. KBC Group NV grew its position in 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 during the period. AlphaQuest LLC purchased a new position in shares of PHINIA during the 4th quarter valued at about $173,000. State of Michigan Retirement System purchased a new stake in shares of PHINIA in the fourth quarter worth about $203,000. Finally, Optimize Financial Inc acquired a new stake in PHINIA during the fourth quarter worth about $206,000. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Trading Up 2.1 %

Shares of PHIN stock traded up $0.87 during trading on Tuesday, hitting $41.54. 37,782 shares of the stock traded hands, compared to its average volume of 608,395. The firm's fifty day moving average price is $44.24 and its 200-day moving average price is $47.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The firm has a market capitalization of $1.65 billion, a P/E ratio of 23.73 and a beta of 1.56. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The business had revenue of $833.00 million for the quarter, compared to analyst estimates of $811.94 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. As a group, 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 declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.60%. This is a boost from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. PHINIA's dividend payout ratio is 61.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PHIN. Bank of America started 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. Northland Securities started coverage on PHINIA in a research report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price target on the stock. 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. Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Finally, CL King initiated coverage on shares of PHINIA in a research report on Monday, March 24th. They set a "buy" rating and a $54.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.60.

About PHINIA

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.